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Joined: 28 Dec 2005 Posts: 11983
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Posted: Fri Jul 04, 2008 3:32 am Post subject: SPX Oversold Rally |
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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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