Sunday, June 10, 2012
Markets react to news from Spain
A strong gap up in all market indices owing to the news from Spain over the weekend. For instance, Emini S&P 500 index futures opened up +15 points. This gap up is painting a picture as though the Euro zone issues are resolved. The gap up is right at the resistance zone for Emini S&P. Keep in mind, the markets dropped down in heavy volume and rallied last week on weak volume. Some of the breadth numbers I keep track of have more room to the downside before we could resume the uptrend. However, the next few days of market action will determine direction of the move.
Subscribe to:
Post Comments (Atom)
1 comment:
The Gap up is being sold in a haste!!! not good for the markets.
Post a Comment