S&P500 Index Daily
Short term. Tactical short - hedge long positions, (possibly till first week of July).
Sectors Overbought.
Mid term. Long ( 2000 ), given-staying above 17/5/2013 Channel.
Breaking the uptrend_line, and 10 sma.
RSI overbought, potential channel top, bearish divergence.
Targets :
a 1930
b 1920-28
Worst case : 1905-1909 ( Triangle base breakout, 50 sma, 50% retracement.
Short term. Tactical short - hedge long positions, (possibly till first week of July).
Sectors Overbought.
Mid term. Long ( 2000 ), given-staying above 17/5/2013 Channel.
Breaking the uptrend_line, and 10 sma.
RSI overbought, potential channel top, bearish divergence.
Targets :
a 1930
b 1920-28
Worst case : 1905-1909 ( Triangle base breakout, 50 sma, 50% retracement.
