Monday, October 5, 2009

SnP Update

SnP has taken a pause from its relentless grind higher and touched/held a zone of support formed between the Aug highs and the yearly pivot. We're also nearing our statistical measures of support and have the highest downside reading on our OGD 2 overbought/oversold indicator since the Cycle LOW back in march. These levels offer bullish individuals a chance to get on the train; those with a more bearish outlook staying neutral until a clearer technical breakdown occurs, most likely of the 980 and 930 levels. (note: this is not investment advice)