S&P 500 INDEX - $SPX
Monthly chart shows market remains well below all moving averages on this timeframe. No buy signal/pattern evident on this timeframe.
Weekly chart remains below all moving averages. No buy signal/pattern evident on this timeframe.
Daily chart shows continued weakness into the close of last week. Market has fallen back through the 8ema, but has found short term support off the 50sma. Look for continuation lower next week and at a minimum, a re-test of the November 2008 low.
Sunday, January 11, 2009
$SPX Update for 01.11.2009
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