Can it be a TOP or just a pause???
The week was configuring a small downtrend that was interrupted in the last 50min of Friday, when market was pushed higher, "analysts attributed increased buying in the afternoon to the end-of-quarter rebalancing of
portfolios by institutional investors." (marketwatch.com/story/us-stocks-edge-lower-nike-up-on-earnings-2014-06-27)
However the strong buying action did not pushed SP500 to levels of 1963-1965, the break point was around 1954 moving up to 1960 and falling to 1959, basically all the buying power just pushed the market 5-6 points up, still 4points bellow the highest.
In the latest news ECP, FED announcement, market was jumping more than 10 - 15 points,
indicators were following the buying action, last Friday things were a bit different.
Points to consider, dollars is falling, Gold - Silver is moving higher, FED wants to rise interest and GDP was worst than expected !!!!
I will watch close the two green candles, could be a trap ? or we will have fireworks 4th of July !!!!
Wednesday FED-Yellen talk and Thursday jobs data, even some trades don't follow the news, some of them also are not in the market during the news !
Some good readings for the SP500 ...
northmantrader.com/2014/06/28/weekend-charts-chains/
quanholdingsllc.com/2014/06/26/why-todays-2-9-gdp-was-the-negative-event-which-will-mark-the-top-in-us-equities/
zerohedge.com/news/2014-06-28/crushing-q2-recovery-dream-1-simple-chart
portfolios by institutional investors." (marketwatch.com/story/us-stocks-edge-lower-nike-up-on-earnings-2014-06-27)
However the strong buying action did not pushed SP500 to levels of 1963-1965, the break point was around 1954 moving up to 1960 and falling to 1959, basically all the buying power just pushed the market 5-6 points up, still 4points bellow the highest.
In the latest news ECP, FED announcement, market was jumping more than 10 - 15 points,
indicators were following the buying action, last Friday things were a bit different.
Points to consider, dollars is falling, Gold - Silver is moving higher, FED wants to rise interest and GDP was worst than expected !!!!
I will watch close the two green candles, could be a trap ? or we will have fireworks 4th of July !!!!
Wednesday FED-Yellen talk and Thursday jobs data, even some trades don't follow the news, some of them also are not in the market during the news !
Some good readings for the SP500 ...
northmantrader.com/2014/06/28/weekend-charts-chains/
quanholdingsllc.com/2014/06/26/why-todays-2-9-gdp-was-the-negative-event-which-will-mark-the-top-in-us-equities/
zerohedge.com/news/2014-06-28/crushing-q2-recovery-dream-1-simple-chart
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