25.2 – 2009
Interesting, Bernanke spoke worked.
I think market will pretty much rest the rest of the week or two, meaning we will not breake this bottom yet – it´s pretty singificant since it´s 1997 asian crisis bottom also. When looking my favorite RSI-30 bottom charts, perhaps this is one need to take some upside room (to fall again).
Macd has come up for very long since price has still be falling. It´s not far away from zero either ;). Perhaps, at least we could get another positive candle or two for it. While 780-800 for SPX should be resistance, in W5 there should be some divergences exist allready – meaning some stocks might have very independent life, looks alike financial stocks might offer some examples. It´s been really amazing deep abyss in the chart in the past 3 months because these stocks didn´t reach to the upside with W4 either.