September 8, 2010

S&P 500 Trading in a range

  • S&P 500 hour chart is trading in a range of 14 points. 1091 - 1105.
  • Right now it is trading close to the upper end of the trading range.
  • Index may pause around 1105 region and may be followed by a correction. Indicators are also in the overbought zone in hour chart.
  • If 1105 is broken convincingly we can see a rally of 10 points.

No comments:

Post a Comment