The following remarks were made in last week's post on the daily bar chart pattern of S&P 500: "Some more correction is possible. Support can be expected from the rising 50 day EMA. Bulls have been buying on every little dip, so a deep correction appears unlikely."
Following a positive close above its three EMAs on Mon. Aug 29, the index gradually drifted down to its rising 50 day EMA on Thu. Sep 1, before bouncing up to close above its three EMAs with a small gain of 11 points for the week.
-- Following a positive close above its three EMAs on Mon. Aug 29, the index gradually drifted down to its rising 50 day EMA on Thu. Sep 1, before bouncing up to close above its three EMAs with a small gain of 11 points for the week.
Read more at:
http://investmentsfordummieslikeme.blogspot.in/2016/09/s-500-and-ftse-100-charts-sep-02-16.html
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