This OpEx week so far has been muted.
Bulls seem not have a reason to buy more with gusto, and bears seem like they are scared of being bears.
From weekly price point of view, index has a positive posture. There are some momentum divergences, but weekly chart looks positive still with ample support from breakout levels and a host of MAs
From a cyclicality and breadth point of view, S&P looks a bit stretched.
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S&P 500 – May 15, 2012 - Bottom Line: Long term trend is up. Mid-term trend is down. Short-term trend is down Weekly S&P stage is Late Advance (2-C) Daily S&P stage is Strong Decli...
1 year ago