US: Fedex warns of declining activity. S&P-500 Reversal

Monday, September 24, 2012

US: Fedex warns of declining activity. S&P-500 Reversal

Fedex (Photo credit: erikleenaars)

September 24, stock investment .- Bellwether transport stock Fedex fell hard in the last week, testing support at $84. Breakout would confirm the primary down-trend signaled by 63-day Twiggs Momentum below zero. A down-trend on Fedex would warn of slowing activity in the broader economy.

A daily chart of the S&P 500 index shows narrow consolidation above 1450. Bearish divergence on 21-day Twiggs Money Flow continues to warn of selling pressure. Reversal below 1450 would indicate a test of 1400.

Weekly chart of the Nasdaq 100 shows the index hesitating below 2900. Expect retracement to test the new support level at 2800.

* Target calculation: 2800 + ( 2800 – 2450 ) = 3150

2 comments:

AnonymousOctober 1, 2012 at 6:09 AM
It is very informative and interesting post regarding S&P-500. Thanks for providing such a great information among the users regarding S&P-500. The S&P 500, or the Standard & Poor's 500, is a stock market index based on the common stock prices of 500 top publicly traded American companies.
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UnknownOctober 3, 2012 at 6:47 AM
It is very tough to find out such a valuable information on net. Thanks for sharing such an admirable post among the users about S&P-500. Keep it up.
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