|
PeakTrader.com Economics, Portfolio Optimization, and Technical Analysis
|
View previous topic :: View next topic |
Author |
Message |
administrator Site Admin
Joined: 28 Dec 2005 Posts: 11980
|
Posted: Sun Mar 04, 2007 5:30 am Post subject: Volatile Correction |
|
|
The first chart suggests SPX may trade around 1,400 (and below the 50-day MA) short-term, since RSI is below 30, which is severely oversold. The second chart suggests a volatile correction that may not be completed for at least a month. Normally, when the NYMO 50-day MA (blue line) falls below negative 20, pullbacks are complete. However, the NYSI (below price chart) remains at a high level. Currently, the daily NYMO is negative 67, which is also severely oversold. Major support levels are 1,345 (200-day MA) and 1,340 (50% retracement from Jul low at 1,219 and Feb high at 1,461). Moreover, about a year ago, SPX was in the second longest period in history without at least a 9% correction. A 9% fall from the Feb high is 1,330.
Raising GDP Growth - Balanced Budget Multiplier - Labor Market
http://econbrowser.com/archives/2018/08/term-spread-and-dollar-diverge#comments
http://econbrowser.com/archives/2018/08/the-closed-economy-national-income-identity-vs-aggregate-demand#comments
Inverted Yield Curve - Not at Full Employment - Rates and Yields
http://econbrowser.com/archives/2018/08/at-the-current-pace-the-2-10-will-invert-in-december#comments
Next Recession - Minimum Wage
http://econbrowser.com/archives/2018/08/guest-contribution-the-next-recession-could-be-a-bad-one#comments
Capacity Utilization
http://econbrowser.com/archives/2018/09/the-investment-boom-or-not#comments
Full Employment - Job Growth - Midwest Crops
http://econbrowser.com/archives/2018/09/the-united-states-is-going-to-become-the-warehouse-for-global-soybean-supplies#comments
Household Survey - Job Growth
http://econbrowser.com/archives/2018/09/manufacturing-employment-and-output#comments
Prediction future economy
http://econbrowser.com/archives/2019/02/lest-you-be-lulled-by-the-nfp-release-employment-growth-1-yr-before-recessions#comments |
|
Back to top |
|
|
|
|
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum
|
|