The S&P is doing a fine job of holding 90 degrees down from the 845 high which is 817 (ladt Thursday) and suggests a possible Misdirection. A break of 817 and then 803 suggests the S&P could turn its Weekly Swing Chart down next week and test its 50 dma. The key level going into expiration IF any weakness shows up should be 360 degrees up from the low or our old friend 774.
1 comment:
Bearrisimo aka Roubini,
I see you posting the bearish comment in Malaysiafinance. Technically, I agreed with you.
But, these few days, it is noticeable that someone is trying to keep the market warm locally. this is called Dr M rallies (most of it his people companies).
I am following your CPO post in dailies. Likely that they are fictitiously pushed up as no concrete demand from China and India lately. Not until we see some innovation in CPO usage.
Solomon
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