Wish I had a clock widget for a countdown to the Mayan thingy....anyway, the week that was:
I've again showed the published economic news below the data for that day so you can see how the price action reacted to the news, and of course we have the whole week data for the last chart graphic. Notice how financials and spy have been holding a consistent trendline since the bottom on Wednesday morning. Notice how IWM has been steadily wedging upward. Notice how Bonds (TLT) are looking weak as if they are going to continue to drop. The dollar has been gaining and losing strength with seemingly little, if not less effect on the moves of the market. Frankly, it would seem, all this market needs is actual substantive progress on the "FC" talks and the market will move substantively higher.
The week that is:
As we can see, very tight band on IWM with volume-at-price resistance in the $83.75 area.
Hard to tell what goes here because aapl is 13% of the index. Go compare the charts of aapl and QQQ. As goes apple so go the Qs...for now anyway.
SPY has volume resistance in the 143.50 area and then the 144.30 area
As we can see, the finnies are pushing upward into volume resistance in 114 area.
And my, don't bonds look weak. Will the 50 SMA provide support?
