Friday, August 21, 2009

21/08/2009 Technical analysis and market review

12.10 Amsterdam.

S&P future is trading around 1008. Market is bullish overall and i still keep my long term bearish view. For the short term and maybe mid term, the market is heading up, willing to test 1050-1070 range. I am long stocks and short index future. Working fine, making some money.

I drew a channel on the daily chart above, with the weekly chart on the bottom-left corner.
As you can see, I expect the market to correct itself to 950s sooner(without going up much further) or later(after seeing 1050).

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