What to Watch on Friday Afternoon
The S&P 500 is very close to giving a weekly 'buy' signal.
We are very close to an "outside reversal" candlestick on a weekly chart of the S&P 500. It just has to go 5 points higher than it has already. If it does -- and the S&P 500 ends the day positively -- that would be a "buy" signal.
The weekly RSI is already giving a buy signal.
Why is the S&P 500 so positive-looking, especially with earnings generally bad? I don't know -- you can throw the chicken bones on that one.
To be sure, the market can change wildly in the last half an hour of trading. So don't jump the gun.
We are very close to an "outside reversal" candlestick on a weekly chart of the S&P 500. It just has to go 5 points higher than it has already. If it does -- and the S&P 500 ends the day positively -- that would be a "buy" signal.The weekly RSI is already giving a buy signal.
Why is the S&P 500 so positive-looking, especially with earnings generally bad? I don't know -- you can throw the chicken bones on that one.
To be sure, the market can change wildly in the last half an hour of trading. So don't jump the gun.
Check out my new gold and energy blog at MoneyAndMarkets.com
posted by Sean Brodrick @ 1:41 PM
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