Market Overview

Market Overview

Published July 31st, 2006 in Technical Analysis Tags: higher high, higher low, lower high, lower low, Nasdaq, Nasdaq 100, NDX, S&P 500, technical analysis, trading, trend, trending.

Since the last time I looked at the trend of the market, the S&P 500 has put in a higher bottom at 1235. This is the first thing we need for a change in trend. The next thing we need is a higher high.

Right now, it seems the market is working on that. If it can close decisively above 1280 and put in a higher high as well, the probability of a trend change will be very high. In the mean time the market is simply coiling within a tight range.

SPX trending.png

The Nasdaq 100 index, however, is much weaker having been unable to put in a higher low. The NDX seems to be still struggling with the 1525 resistance level.

Technorati

higher high, higher low, lower high, lower low, Nasdaq, Nasdaq 100, NDX, S&P 500, technical analysis, trading, trend, trending

Enjoyed this? Don't miss the next one, grab the feed or

No Responses to “Market Overview”

Feed for this Entry Trackback Address

No Comments

Leave a Reply

Search

Recent Comments

Enn : Some other good resources on the Leverage/Lending cycle: Saving, Asset-Price Inflation, and Debt-Induced Deflation by Dr….
grace : To chime in on the sentiment front……… for those who follow net assets in the…
MachineGhost : I’d be remiss if I didn’t also mention this site: http://usdebtclock.org/ Look at the very last…
Robert : There was no surplus Factcheck is full of shit. Reagan’s deficits were a result of spending, not…
Damien Hoffman : I added this to our Best of the Web for tomorrow. Did you make that…
dacian : All these sentiment indicators lately send mixed signals: it shows that speculators/retailers get in and…
shawn M : I have been subscribing to Lowry’s for about a year after hearing much positive feedback…