One up day is not enough though. As you can see in the chart below the strong rallies lasted several days. So, to confirm 1292 being a medium-term low, we need a continuation of today's move for the rest of this and probably next week.
Monday, May 21, 2012
S&P 500 ~ EOD Update 2 ~ 21 May 2012
I mentioned in this post that most medium-term lows were followed by a strong rally. Today's rally was quite strong so 1292 could be a medium-term low.
One up day is not enough though. As you can see in the chart below the strong rallies lasted several days. So, to confirm 1292 being a medium-term low, we need a continuation of today's move for the rest of this and probably next week.
One up day is not enough though. As you can see in the chart below the strong rallies lasted several days. So, to confirm 1292 being a medium-term low, we need a continuation of today's move for the rest of this and probably next week.
