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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: clochard who wrote (113117)7/14/2010 5:32:36 PM
From: Hawkmoon  Respond to of 116555
 
It may be, but what I wonder is if it's an attempt to prevent the fulfillment of that H&S formation that has developed. I thought that we were looking for a run off the cliff when the SPX broke 1040 and further approached 1000..

But somehow it managed to stay above that critical psychological level.

I do expect a retest, but each day we have this rally bends those MA's further to the upside, which seems to neutralize the potential of a full breakdown and it will be interesting to see if 1040 holds again as support.

We could see this bloom into a wide trading channel, which would be a trader's delight.

Hawk



To: clochard who wrote (113117)7/14/2010 8:28:23 PM
From: Crimson Ghost  Respond to of 116555
 
Interest rates have hardly budged despite the recent strong stock bounce. Most unusual.

Bradley turn dates have been quite accurate of late. The last one was July 8 -- just after the rally began. The next one is August 10.


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