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The S&P is Now Bouncing Off the Recent Low... |
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By Terry Martin
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May 20, 2011
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The S&P pulled-back and now is in the midst of bouncing off the recent low. Now let's see what this all means:
- The Market is trying to move higher but is doing so on low volume.
- The RSI (Relative Strength Indicator) is performing the way it should be - good confirmation
- Looks like we got "another chance to buy at around the breakout price of 1337.75" as predicted last week
Here’s my Intermediate term Trading Level (same as last week):
1351.75
1339.75
1330.25 (Important Level)
1320.75 (Important Level)
1320.75 (Important Level)
1309.00
1290.00
Updated Trading Points:
No new Trading Points.
 Click on image to enlarge!
Have a Profitable Day Trading!
For more from the Market Trading Guru, you can follow his blog at http://mrkttradingguru.wordpress.com to receive the daily Trading Levels or on Twitter: @MrktTradingGuru. |
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