actio-et-reactio
Balance is but a brief transition between extremes.
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Saturday, April 05, 2003
Comments, 5 April
The daily forks are projecting resistance at SPX 894, which if broken targets 906, or if price goes wildly bullish, 942. This is supported by standard indicators like MACD, which is in positive territory, and RSI which has managed to stay above its "range channel" (the orange horizontal lines).
On the less bullish side, RSI is also indicating an ascending triangle, which may resolve bearishly. That could happen when price hits 906 resistance, which case 895 will initially act as support. In that case, lower fork parallels target possible supports at 862 and 846.
Labels: market-calls-dated
At last, over the rim
of the waiting earth
the moon lifted with
slow majesty
till it swung clear of the horizon and rode off,
free of moorings
- Kenneth Grahame,
The Wind in the Willows
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