Monday, April 13, 2009

S and P 500 Chart Update, Trend Intact

June S and P 500 Future, Chart, April 13, Pre Opening

June S and P 500 Chart 413

  • Once again we bounced off the red line (plus two standard deviations) on Friday.
  • The market continues to attach to the red line during the rally.
  • The market continues to make higher highs and higher lows. A positive.
  • The uptrend remains intact. The lines continue to rise and are containing the market.
  • Retracements can come at any time.
  • Expect hard resistance on any rallies toward 860 today.
  • Support is rising, but still down to 800.
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Bob DeMarco is a citizen journalist and twenty year Wall Street veteran. Bob has written more than 500 articles with more than 11,000 links to his work on the Internet. Content from All American Investor has been syndicated on Reuters, the Wall Street Journal, Fox News, Pluck, Blog Critics, and a growing list of newspaper websites. Bob is actively seeking syndication and writing assignments.

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