Monday, May 18, 2009

S&P 500 Analysis Follow Up

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A few days ago on Thursday May 14, 2009 in my "S&P 500" post I have mentioned about good odds of the indexes rallying back to the May 8, 2009 highs ("I use in my technical analysis are bullish and point to the good odds of the further recovery"). In the same post I expressed my hesitation about indexes breaking these highs. Now, the Dow Jones Industrials index came close to its May 8, 2009 high. The S&P 500 and Nasdaq 100 indexes are still  below.

We had a nice recovery today, yet, I am still staying on my position, expressed in my previous post, that I would not expect to have May 8 highs easily broken. Yes, my technical analysis (my technical indicators) is bullish at the current moment, yet, I would still consider that this is important to keep an eye more closely on the charts over the last couple of trading sessions.

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