Saturday, September 11, 2010

Postscript to Greek Tragedy - Epiphany

It has been a while since I wrote, but lets quickly see
what happened since, and how it played out with my
observations.

We did ultimately break the 1080-1110 support band on
the SPX, and did ultimately go down to the 1000 zone.
1010, to be precise.

We have then come back on a weak volume bounce back to
the 1080-1130 zone.

WE now have a double top in place at 1130, the 200 DMA
is just a few points overhead, and the 14-week RSI is
vacillating around the halfway point.

Here is the chart -

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