Home > Uncategorized > ROHR Weekly Overview 2009/11/09

ROHR Weekly Overview 2009/11/09

▪  Trends that were significantly contentious on equities’ failure to push above major resistance in spite of great earnings reports in September have now clarified; yet not sustaining initial benefits that seemed to accrue to bears.  On technical form it remains the bulls ballpark in spite of Friday’s scary US Employment report, as DJIA already back above 9,850-30 range is accompanied by weak sister December S&P 500 above 1,050-45, and also managing to maintain its bid right back up near its 1,067-70 previous failure.  

Whatever else comes during this week’s heavy debt auction and central bank influences (in spite of no actual rate decisions), if the December S&P 500 future does manage to push back above that area it will signal an ability to rally to new highs for the current overall rally. That likely means DJIA can reach its 10,300-350 resistance, just as December S&P 500 future will likely be able to take a look above the ‘big penny’ to test its major 1,102-08 Gap from last October’s massive failure. That said, those areas remain key arbiters of whether the market can indeed extend the already significant rally from the March lows to a much greater extent.

Categories: Uncategorized
  1. November 23, 2009 at 8:49 PM

    Just testing what a comment posting looks like

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