$SPX . Taking profit and resistance at 1260

I establish a long position when the market hits 1160. On the chart, it was sitting right on the kumo support. My long position was established with the belief that the year end rally will materialise and the Euro issues will be sorted out (at least temporarily). With this strong rebound and a resistance of… Continue reading $SPX . Taking profit and resistance at 1260

DOW Rally : Starts in March, Ends in May

Back in March 2008 (around that time), Bush said, “US is not in recession”. And around that time, DOW had a rally in March starting from 11,800 and it goes all the way up 13,000 before it stops and reverse (in May). I remember the sentiments that many felt the economy is still healthy. From… Continue reading DOW Rally : Starts in March, Ends in May