Web Statistics SPX weekly chart update

Saturday, 7 September 2013

SPX weekly chart update

SPX weekly chart update

Stocks capped a wildly volatile trading session flat as a pancake following the monthly government jobs report and amid ongoing jitters over Syria.

The syria crisis is certainly playing havoc with the market, but again, its just all rumors, no action has actually been taken yet. And Just between you and me I think OBAMA is fighting a losing battle there.... but we shall see.

The continuing debate over whether the Federal Reserve will announce a tapering at this month's meeting is another wild card.

I think investors will have a better idea of whether this week's WEAK Market bounce (the Dow has been up four straight days) has staying power when "real trading" resumes in the coming week.

Right now, it's going to be waiting for the Fed, the markets are a bit jumpy, however you can see we are still in a nice upwards channel. Above the bottom of the channel is bullish, but below is bearsish. The week coming will probably be a make or break, but the yo yo on this market continues.

SPX weekly chart update
SPX weekly chart update

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