Intraday Market Thoughts

Archived IMT (2010.08.11)

by Ashraf Laidi
Aug 11, 2010 18:10

S&P500 BEARISH SIGNALS ON THE ALERT as the inability to break above the 100-day quickly gave way to a plunge below the 200-day MA, a pattern that was last seen in mid June, before the 10% decline. The bearish signal would especially remain if we end the WEEK below 1,100. 5,250 in the FTSE-100 and 10,400 in the Dow-30 are also key support levels to watch for the week. 82.30 is the important 2-month trendline resistance meriting attention for the week.


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