Well, seems my support theory is holding well though it was weaving in and out of that territory. MACD looks towards an upside. However US economic situation isn't looking very bright. It's stalling. It was Friday's Job report propelling the rally on Friday but it declined slowly as people started digesting the news. Based on technical analysis, we still have that 200 day SMA to break. Also we already have the "death cross" which signals for another long term downward movement.
Saturday, September 4, 2010
Up again?
Well, seems my support theory is holding well though it was weaving in and out of that territory. MACD looks towards an upside. However US economic situation isn't looking very bright. It's stalling. It was Friday's Job report propelling the rally on Friday but it declined slowly as people started digesting the news. Based on technical analysis, we still have that 200 day SMA to break. Also we already have the "death cross" which signals for another long term downward movement.
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