Algokid

SP 500 hitting Resistance/ U.S Dollar breaking resistance

INDEX:SPX   S&P 500 Index
760 1 7
The market is up about 10 % this quarter, which is a nice start for 2013. However, it's at significant resistance as you can see on the log chart (blue). At the same time the dollar is quietly rising ,while gold             is testing support. With all the trouble in Europe, are the investors looking at the U.S. dollars as the best "investment" for near term ? Can we expect some profit taking in the next quarter ? or is it different the time ? well, only time will tell. Until then ,good trading to you all

Algo.
www.passivestor.com
Algokid PRO
3 years ago
UPDATE : the S &P made a new all time high and is slightly over it's resistance. Gold and Silver are in a downfall, and the dollar remains flat. Looking at other indicators , such as the S & P / Cash ratio and the % of S&P 100 above 200 ma , it's seems like the market will continue to dismiss any negative news and continue to buy. Both this indicators have increase over the past week, with the SP 100 having 87 % of it's stocks above their 200 ma . So sticking with the trend for now, for how long however ? only time will tell.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out