October 28, 2010

S&P 500 In a channel

  • SPX Hour chart trading in a channel.
  • Index was moving in favour of the bulls but price has been dragged down toward the bottom of the channel. 
  • This may be an attempt to shake out the weak bulls and then another up move may happen from here. 
  • Unless the bottom trend line is broken bulls need not worry.
  • USDJPY TAKING A U TURN

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