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SPX Oversold Rally

 
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PostPosted: Fri Jul 04, 2008 3:32 am    Post subject: SPX Oversold Rally Reply with quote

The first chart is a daily NYMO chart of its 20 and 50 day MAs that suggest an SPX oversold rally in July, perhaps to 1,350. The second chart is a weekly CRB (commodities index) chart that shows its weekly RSI and ULT are both overbought, which suggest a pullback soon. Earnings season begins in July and many stocks may rise into or after earnings.

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