As we have been saying last days, 880 is a very strong resistence for the SP 500. Indicators (RSI) where very overbought on the 60 min. charts. So it isn't surprising we couldn't take out the 880 level at the first atempt. The matket revearsed after making a new high for this rally. So we are still making higher lows and higher highs. We mantain our Bullish bias for this market until the Bull channel is broken. We expect the market to test again the validity of this channel. In that case expect to see 860's tested again.
No comments:
Post a Comment