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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