Below are the updated charts for the indices. I have also put up the charts on the index ETF, DIA, SPX & QQQQ to show what levels I am watching on these ETFs. Click on the image to get a larger view of the chart.
DJI, DIA
SP500, SPY
Nasdaq 100, QQQQ
Saturday, April 18, 2009
Everyone Is Watching
The market finished with another up week. This make it six weeks in a row. The SP500 is hitting the inflection point of 875, a resistance level that everyone is watching. The DJI has broken above 8000 and into the 8100. Nasdaq 100 getting close to its resistance level near 1380-1400. It will be interesting to see how the market will react when these indices get near their key resistance level. Will a pullback finally take place as many people have been waiting for, or will those skeptics finally give in and push the market to a blowout to end this bear market rally. The market is definitely getting a bit risky and I am tighten up my stops on my longs. Still not shorting yet.
Below are the updated charts for the indices. I have also put up the charts on the index ETF, DIA, SPX & QQQQ to show what levels I am watching on these ETFs. Click on the image to get a larger view of the chart.
DJI, DIA
SP500, SPY
Nasdaq 100, QQQQ
Below are the updated charts for the indices. I have also put up the charts on the index ETF, DIA, SPX & QQQQ to show what levels I am watching on these ETFs. Click on the image to get a larger view of the chart.
DJI, DIA
SP500, SPY
Nasdaq 100, QQQQ
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