There is no doubt that the market performed well yesterday. After Spanish bank bailout announced over the weekend, everything seemed to indicate that the market would take a new look. But the enthusiasm did not last long and the major indices began to decline. At the close of the market, have been tested a number of explanations for this behavior. Beyond these reasons, it has seen a decline in technical terms.
Monday's engulfing candle [R] on the S&P 500 warns of reversal to re-test support at 1270. Respect of the zero line (from below) by 21-day Twiggs Money Flow would indicate strong medium-term selling pressure. Failure of support would offer a target of 1200*.
No comments:
Post a Comment