I'm watching 870 on the SPX as a resistance level that may turn back this rally. It looks like we have either accumulation or distribution going on right now. Which way do we break?
stockcharts.com[h,a]daclyyay[pb50,200!d20,2!c20!c10!c200!a870][vc60][iUb14!Uk14!La12,26,9!Ld20]&pref=G
And I'm still watching 285 on the SOX if we get that far because it is the neckline on the head and shoulders pattern:
stockcharts.com[h,a]daclyyay[pb50,200!d20,2!c20!c10!c200!a285][vc60][iUb14!Uk14!La12,26,9!Ld20]&pref=G
Those McClellan charts indicate that this rally could continue for several days if we continue to get good enough economic data etc.
stockcharts.com[m,a]daclyyay[pb50!b200][vc60][iUb14!La12,26,9]&pref=G
stockcharts.com[m,a]daclyyay[pb50!b200][vc60][iUb14!La12,26,9]&pref=G
RtS. |