Thursday, May 13, 2010

SPX's Post Crash Bounce Since Late 5-6-10 Probably Didn't Peak Today 5-13-10


SPX's (S & P 500, http://bit.ly/i0nsT) Post Crash Bounce Since Late 5-6-10 Probably Didn't Peak Today 5-13-10, see http://finance.yahoo.com/q/ta?s=^GSPC&t=5d&l=on&z=l&q=c&p=v&a=fs,w14&c=. Wave 5 Up began late on 5-10-10. Light SPX (S & P 500, http://bit.ly/i0nsT) volume today, about 3.800+ billion shares, indicates that SPX probably didn't peak today, because, volume spikes almost always coincide closely with/confirm price spikes/inverse spikes (cycle highs/lows).

In the Daily View candlestick chart one can see the Wave 1 and Wave 3 cycle high red candles that occurred on 5-7-10 and 5-10-10 (today's bearish red candle suggests that SPX might have peaked today), and, they have a bearish spike, see http://stockcharts.com/charts/gallery.html?s=spx. Watch upside gaps at 1202.26 and 1212.05.

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