Monday, June 7, 2010

Market continues down....

The market's ($SPX) decline may pause briefly soon as the weekly Bollinger Bands are approached...but in general the decline seems strong at this point.

It's worth noting that the monthly Bollingers Bands are at about 740 and the quarterly Bollinger Bands are at 760...These levels should be watched as we approach them...a number of months into the future....

Of course, two things to remember about Bollinger Bands, (1) they move and (2) they usually are exceeded a bit before they work...

Today's chart:




Notice that the recent top of last Thursday (6/03/10) shows up on the chart as just a whisker past the .125 value on the X-axis (1/8 Node)....

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