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Today´s Outlook
- Bullish %: not important right now
- Current reading is 93, if we need to get over 300 to become bullish
Weekly Outlook
Price reversed right at 1040 and should now head upwards. 1052 has been tested and held. The market is oversold and is due for a technical bounce to 1066, 1075, 1089 and even 1106. The reversal pattern remains alive and well and actually projects to the 1214 area. It will be a bumpy ride, should that be reality.
The world should see one more rally before price simply drops to the lows in 2011 and there it should bottom. Health care costs and taxes will cripple the business environment next year.
Analysis
Friday saw a high volume outside day reversal. Today has a BUY signal that should stall around 1066-7 initially. Volume can modify that, the numbers I post are not for trading, only a a guideline!
Bonds have attracted all the money of late but that may be about to change, look for higher yields this week.
Good luck with your trading! |
