PeakTrader.com Forum Index PeakTrader.com
Economics, Portfolio Optimization, and Technical Analysis
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 
Log inFast Charts

SPX: Volatile Uptrend

 
Post new topic   Reply to topic     PeakTrader.com Forum Index -> Market Forecast
View previous topic :: View next topic  
Author Message
administrator
Site Admin


Joined: 28 Dec 2005
Posts: 11966

PostPosted: Fri Apr 18, 2008 11:22 pm    Post subject: SPX: Volatile Uptrend Reply with quote

It's possible SPX will create a bullish inverse head & shoulders pattern by falling to roughly 1,300 in May. However, the SPX weekly MACD suggests a volatile uptrend instead (see first chart). SPX closed April options expiration week at 1,390. A major prior resistance level is 1,400 and another major level (previous resistance and support) is 1,360. However, a wider range may take place, e.g. between 1,330 and 1,400, short-term before a break-out above 1,400.

The second chart shows the CRB index, which reflects energy, metal, and food prices. The CRB weekly MACD shows a "bullish kiss" suggesting higher prices over the next few weeks. Rotation between commodity and non-commodity stocks will be a major factor of SPX volatility, particularly after earnings season (also see third chart, i.e. SPX and CRB comparison chart).





Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic     PeakTrader.com Forum Index -> Market Forecast All times are GMT - 8 Hours
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


Powered by PeakTrader 2.0.8 © 2001, 2002