Sunday, January 15, 2012

S&P 500 - End of Week Analysis - between the lines

S&P 500 - EOW Analysis - Week 02-13  Jan 2012.
The last post on this topic anticipated correctly, that the space around the weekly channel top is where the action would be centered - See arrow. We have a green candle hedged by two lines, the week's channel top and the month's channel bottom. Resolution would invoke one of them giving way. The S&P is in an oversold and Bullish state right now. The month targets remain relevant.