S&P500 Trying to Work Off Overbought Condition

After breaking through its relatively tight short-term trading range on yesterday’s Fed announcement, the S&P500 ran out of gas at 1333.   Our best guess is that in the short run the S&P500 trades in a range of 1306-1333 as it tries to work off the overbought condition.

A break of the lower bound at 1306 could take the index back to 1277.  Stay tuned.

(click here if chart is not observable)

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4 Responses to S&P500 Trying to Work Off Overbought Condition

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  2. Pingback: S&P500 Plays Range Rover, Waits on the Shanghai | Forex news

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