Heyer Capital, LLC

investment management and timely advice from a local CPA (Fox Valley, Wisc.)

market trend line

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The general market (summarized here with the S&P500 ETF) has had a powerful up trend the past eight months. A peculiarity of it is the major trendline connecting the price action in March, July and early October.  To make it to new high ground (toward “Point A“), the market will have to pass through not only the natural doubting resistance of new highs but also up through the strong trendline.

 

S&P5 chart trend 6 3

Failure to press through toward “Point A” possibly sets us up for a head and shoulders reversal.

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Written by heyercapital

November 6, 2009 at 4:25 pm

Posted in stock ideas

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