The daily price chart shows a hammer inside bar pattern flirting with the 1262 level while the MACD continue to show divergence. I will continue to be cautiously bullish and not to fall into the trap of ‘false sense of bullishness‘.
Monday, January 10, 2011
False Sense of Bullishness
Check out the 5 minutes intraday chart for the SP500. I mentioned in the Saturday post to keep an eye on the 1262 support level. Look what it did around 10:00am today!
The daily price chart shows a hammer inside bar pattern flirting with the 1262 level while the MACD continue to show divergence. I will continue to be cautiously bullish and not to fall into the trap of ‘false sense of bullishness‘.
The daily price chart shows a hammer inside bar pattern flirting with the 1262 level while the MACD continue to show divergence. I will continue to be cautiously bullish and not to fall into the trap of ‘false sense of bullishness‘.
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