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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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!
---
Follow Me on Twitter
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.
Zignals offers a full suite of FREE financial services including price and fundamental stock alerts, stock charts for Indian, Australian, Frankfurt, Euronext, UK, Ireland and Canadian stocks, tabbed stock quote watchlists, multi-currency portfolio manager, active stock screener with fundamental trading strategy support and trading system builder. Forex, precious metal and energy commodities too. Build your own strategy and sell it in the MarketPlace to earn real cash.
You can read what others are saying about Zignals on Investimonials.com.
JOIN ZIGNALS TODAY - IT'S FREE!