Friday, June 29, 2012

Quick Update: Bulls Need This Rally To Work

It's an important time for bulls to work their magic.  Markets are still vulnerable and Blain over at StocktradingToGo has a chart for the S&P which neatly shows the challenges bulls have to overcome if something more dramatic to the downside isn't going to emerge.

I have repeated the key elements here. In effect, for the S&P, bulls have to hold rising channel support and comfortably clear 1,360 if it's going to offer sideline money the confidence to step in and buy.  Today has offered a good start, but there is still more to do.


Have a great weekend!

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Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com. I offer a range of stock trading strategies for global markets which can be Previewed for Free with delayed trade signals. You can also view the top-10 best trading strategies for the US, UK, Europe and Rest-of-the-World in the Trading Strategy Marketplace Leaderboard. The Leaderboard also supports advanced search capability so you can tailor your strategies to suit your individual requirements.


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