Ouch. On solid news out of the white house, resistance was breached in the morning BUT did not hold on to close the day. May get a slight pullback towards S&P 1190 and an increase in volatility until we mosey into year end. Still bullish in 2011, especially so for all things commodity.
Interesting halt on the S&P 500 though. Resistance right at it's 2/3 retracement from the 2007 high for the 2nd time this year (double top).
I need to figure out a way to post a decent chart in the future.
I need to read more technical analysis books. Have any in mind? The one I'm currently crawling through is "Technical Analysis - Plain and Simple"
ReplyDeleteMartin Pring is a prominent guy in the technical analysis field. Anything by him would be a good, but ardous read.
ReplyDeleteBut the book you're reading is a great introduction as well, and covers all the need to know fundamentals. Check out "fibonacci" in your book, it relates to my 2/3 retracement comment.
And I don't mind comments on my pages at all, I just may not have enough time to fully respond. Especially now that things are picking up at work.