The cash S&P500 daily chart made an uptrending bar with a higher close on Tuesday. As the high was still below last Friday’s high it is clear that we are marking time until the Fed announces. Not only are we right at the short term moving average (see chart) but volume fell yet again. Bottom Line: I am still waiting for a retest of the January 23 low.Wednesday 30 January 2008
Waiting on the FED (Again)
The cash S&P500 daily chart made an uptrending bar with a higher close on Tuesday. As the high was still below last Friday’s high it is clear that we are marking time until the Fed announces. Not only are we right at the short term moving average (see chart) but volume fell yet again. Bottom Line: I am still waiting for a retest of the January 23 low.
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