The Dow Jones, the NASDAQ and the S&P 500 were able to breakout above the downtrend channel. They’re all now on an important resistance area represented by the 50 days Moving average.
The Inverted Head and Shoulders I’ve been talking about for quite some time remains in place, so if the indexes pass the Moving averages, it’s possible that we’ll start a bull market in the next few months.
We need further confirmations to confirm that scenario, but today’s market behavior was encouraging.
QQQQ:
DIA:
SPY:
6. September 2010 at 7:08 pm
I just search some keywords at Google and then I enter here, I find many information, and now I just want to let you know I really like to read your posts!
13. September 2010 at 5:56 pm
Thank you Tim.