:: actio-et-reactio ::
amg's market charts and blather
After that quite unexpected morning exhuberance spike on the Consumer Confidence numbers, yesterday's ugly close played itself out with a late day sell-off. Technically, a case can be made for further gains as, for the NDX, price is at lower pitchfork, with confluence with various geometric supports. The SPX 60m chart is a bit more troublesome, but if anything, somewhat oversold.
There is a rather "obvious" VV on the 60m charts, with a mild positive divergence that is now playing out. The mid-point of the VV is ~1450, which continues to be a formidable battleground. The next two geometric resistances are at 1488 and 1519, with support 1411 to 1418.
The dominant trends continue to be down.
|
moon phases |
At last, over the rim
of the waiting earth
the moon lifted with
slow majesty
till it swung clear of the horizon and rode off,
free of moorings
- Kenneth Grahame,
The Wind in the Willows
blather: nonsensical talk.
At times my analysis log, at times sharing what I've learned. Always my own work and views.
Content: amg
Basis: glish & bluerobot
Powered by blogger
Web Host: lunarpages
