The following chart shows the weekly picture of the S&P 500 with the MACD indicator from July, 2002 and suggests a divergence between price and the MACD has been forming since late 2009. The tug of war between the bulls and bears has resulted in a market that has chopped back and forth since May. The "bulls" need to be more convincing with other than beginning-of-the-day gap openings to the upside, up Mondays and last hour afternoon rallies. The "bears" need to more convincing with follow through to downside. As a reminder, the seasonally tough period of September/October looms directly ahead. Fasten your seat belt and hold on. (more)
Wednesday, August 11, 2010
Some Thoughts on the S&P 500 and the U.S. Dollar Index
The following chart shows the weekly picture of the S&P 500 with the MACD indicator from July, 2002 and suggests a divergence between price and the MACD has been forming since late 2009. The tug of war between the bulls and bears has resulted in a market that has chopped back and forth since May. The "bulls" need to be more convincing with other than beginning-of-the-day gap openings to the upside, up Mondays and last hour afternoon rallies. The "bears" need to more convincing with follow through to downside. As a reminder, the seasonally tough period of September/October looms directly ahead. Fasten your seat belt and hold on. (more)
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