26/04/2012

SP500 outlook. The main indexes have now moved sideways between 8 and 12 days and a break out must come sooner or later.

SP500 range for 12 days has been 1.356.82 - 1.393.81. Today Thursday the index is testing the upside for the fourth time. High so far this morning is 1.392.98. The close on Wall Street Wednesday was 1.391 and during the last seven hours in Asia there are again signs of a topping out process below the top 1.393.81. A break on upside can still come today so we have to wait for trading in Europe and maybe even for the US economic news at CET 14:30. If SP500 turns down again there is a possibility that this index has seen its final top at 1.424.70.




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