Friday, June 19, 2009

S&P500 Technicals by SocGen

I wrote on Wednesday, that I have not decided ... and I have not until today. The upward move has deteriorated considerably, but it may be a short-term consolidation, as there is no really bearish signal yet.
Market is about fairly priced, and the upcoming positive hard US economic data are priced in ... Probably, a bit too optimistic, but only two weeks till the end of quarter I cannot find myself selling equities... yet.
I am wondering, but the Techncians at SocGen are painting my script ... well, they are better than me!
Click to enlarge, courtesy of Societe Generale.

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