Well, I’ll give Karl credit with marching to a different drummer and being a contrarian. a lot of talking heads seem doom and goom ahead. However, the US economy, and certainly the emerging economies, are powerful engines that seem to be robust in spite of the efforts of politicians to kill them off. On indexes, I’ve been watching stochastics and RSI, with a 2 average (instead of the 14 default value), and it looks to me like we could at least get a positive bounce here.
gaurav on
July 1st, 2010 9:27 am
Karl,
I agree with you that the market is oversold in the short term. I see SPY bounce back to 107.39 in the short term, before falling further below current levels. Any thoughts?
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Well, I’ll give Karl credit with marching to a different drummer and being a contrarian. a lot of talking heads seem doom and goom ahead. However, the US economy, and certainly the emerging economies, are powerful engines that seem to be robust in spite of the efforts of politicians to kill them off. On indexes, I’ve been watching stochastics and RSI, with a 2 average (instead of the 14 default value), and it looks to me like we could at least get a positive bounce here.
Karl,
I agree with you that the market is oversold in the short term. I see SPY bounce back to 107.39 in the short term, before falling further below current levels. Any thoughts?