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Bulls & Bears Battle for Potential Key Reversals!

Bulls & Bears Battle for Potential Key Reversals!

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Published by Richard Suttmeier
The major equity averages traded back and forth across the unchanged lines on Thursday. The result for Thursday is a draw. The bulls wanted higher closes to avoid potential key reversals. The bears wanted to keep a key reversal as a possibility depending upon whether or not Friday’s closes are below Thursday’s closes or not. For the major equity averages to have weekly key reversals, these averages would have to close below last week’s lows at; 15,053.46 Dow Industrials, 1626.74 S&P 500, 3426.67 Nasdaq, 6324.48 on Dow Transports and 971.24 Russell 2000. This is feasible but unlikely.
The major equity averages traded back and forth across the unchanged lines on Thursday. The result for Thursday is a draw. The bulls wanted higher closes to avoid potential key reversals. The bears wanted to keep a key reversal as a possibility depending upon whether or not Friday’s closes are below Thursday’s closes or not. For the major equity averages to have weekly key reversals, these averages would have to close below last week’s lows at; 15,053.46 Dow Industrials, 1626.74 S&P 500, 3426.67 Nasdaq, 6324.48 on Dow Transports and 971.24 Russell 2000. This is feasible but unlikely.

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Categories:Types, Business/Law
Published by: Richard Suttmeier on May 23, 2013
Copyright:Attribution Non-commercial

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09/29/2013

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