mid week update - spx mid week update

Alot of jumping around on the S&P and global markets today.

There are lots of people out there saying the market is about to crash, the sentiment still remains the same.

At the moment whenever the S&P has sold off seems that the smart money is just holding their nose and buying more.

Yesterday there was a little confusion, however that seems to have sorted itself out today, as things went along in an orderly fashion.

if you have a look at the S&P chart, and the RUSSELL, they seem to be holding quite well, for now anyway. 

spx chart

russell 2000 chart

We do have a busy day on the market tomorrow, and there will be lots of movement. Tomorrow we have Chain Store Sales, Charles Evens Speaks, Jobless Claims, Productivity & Cost, Nat Gas, Consumer Credit, Fed Balance Sheet and Money Supply.


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russell 2000 chart - russell 2000 chart in channel

russell 2000 chart

Looking at the russell 2000 chart below we can clearly see that the russell 2000 chart has held pretty well over the last few days.

Ever since our bottom call the russell 2000 chart has remained in a nice skinny upwards trend channel. It is still inside and has not broken down or out of this channel right now.

The market is a tough call right now, but our VIP MEMBERS HERE are doing quite well.

Bare in mind that there is much controversy and talks surrounding the FISCAL CLIFF problems right now, and they still have not sorted out a solution.

It is almost like the market is shuffling its feet waiting for some sort of fiscal cliff news to rare its head!. All we can do is wait and study the charts. Normally the news always comes out in the charts first. The russell 2000 chart below is interesting, but all we can do is watch and wait!

russell 2000 chart

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