Rusty Market Musings » Double Bottom http://blog.laenasinvestments.com A market diary and trading ideas repository Sat, 22 Aug 2009 13:52:40 +0000 http://wordpress.org/?v=2.8 en hourly 1 Possible S&P500 double bottom http://blog.laenasinvestments.com/2009/02/25/possible-sp500-double-bottom/ http://blog.laenasinvestments.com/2009/02/25/possible-sp500-double-bottom/#comments Wed, 25 Feb 2009 22:01:08 +0000 LtPinback http://localhost/TradeBlog/?p=29 Today the market opened below yesterday’s close and after retreating to 752.89, it printed higher highs and higher lows. In the last half hour of trading a sell off took place but no new low was made.

S&P 500 Index 5min Chart

S&P 500 Index 5min Chart

S&P 500 SPDRs 5min Chart

S&P 500 SPDRs 5min Chart

The SPY daily shows a 3 months double bottom. A close above 80.00 will definitively confirm it. While a retreat to the 74.59 lows will likely setup a free fall crash.

S&P 500 SPDRs Daily Chart

S&P 500 SPDRs Daily Chart

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