Market news, views and information from a Wall Street veteran

Tuesday, October 24, 2006

S&P500 Daily Analysis for Oct 23rd



  • 1st time frame UP trend remains intact.
  • Extremely bullish day with good range extension.
  • When the market closed the bulls were keen, eager, in control and committed.
  • Triple MAs remain BULLISH.
  • MACD histogram has given a BUY signal.
  • ST volatility has tested the long term significant lowly support area and is now trending up - ST trending action.
  • Volume has decreased slightly as swing highs were made - better if volume increases as highs made.
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