Tuesday 2 July 2013

Moment of truth for US indices

I'm posting only two self explanatory charts today. Breaking up the support would be extremely bullish and failure would be the start of something bigger in favor of bears. RUT looks much more bullish compared to S&P and that gives me the conviction that this support which was broken prematurely after Ben's speech was not a genuine one with natural market forces. In that case we should break up this support within today or latest tomorrow and reach new all time highs.

 

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