Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Scott Redler: A Tale of Two Time Frames


T3 Live's Scott Redler breaks down S&P 500 technicals.


Taking a look at the short-term action, the market isn't letting longs in or shorts out.

After a pause on Tuesday above the SPY $196.33 gap, it seemed like the market needed a few days of sideways action before deciding on a direction.

A strong close above $200.20, and $202.89 could come into play.

Click to enlarge

Looking at a bigger-picture SPX chart, we have a short-term double bottom at 1870ish.

A close above the 50 day around 1998 can get us a move back to 2020-2060 before year-end.

Longer-term, there is the possibility that a bigger head & shoulders pattern is playing out. We'll have to watch for this if SPX gets back to the 1840-1870ish 

Click to enlarge

< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos