Tuesday, June 16, 2009

One day doesn't a trend make


But it sure can break one!

Differently from the day-long breaks of May, this one added a break of nearest support. Today's market rally should stall out at 930, with a smaller chance to go as high as 940...

The next step overall is to look to define a downtrend, similar to the recent bull run, though that won't happen for at least a week, since it will take a lower high (than 955) and a lower low.

1 comment:

Aditya said...

First will come the battle at the 200 DMA before we can see 880.