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click chart to enlarge
Stalemate
August 20th, 2008 at 12:49pm · No Comments
The S&P futures are at an instructive crossroads here. The 60 minute chart is clearly bullish and the daily chart is clearly bearish. What will happen? In cases like this, expect the short-term chart to have the short-term impact, but diminished by the longer-term trend that will win out in the end. Therefore, some rally may occur, but it might just be sideways as well (and it’s already been sideways for a day and a half) and then look for lower prices.
Tags: Day Trade · General Market Commentary · S&P 500
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