20 October 2011

SP500 : Range Top ?

  • On both the daily and weekly charts, it does look rather like a near term top has been reached.
  • A print below 1191 would seal the move towards the lower end of the trading band.
  • At this point in time, it is probably too early to talk about big trend down moves. But certainly worth making a trading range kind of trade here eg sell 1210 for 1120 stop > 1240.

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