Market Update – Charts
The market was able to confirm its uptrend recently despite some bearish items. Some of the bearish items are flailing financials, weak IWM (Russell 2k), relatively weak tech, and very low volume with the uptrend. These items are a concern and are the reason we are not completely sold on the new uptrend, but we will still have to respect it. The next couple days will be telling if the bulls can hold on to start a viable uptrend.
Below are 3 charts of the market (SPY). A short term (2 week), mid term (6 month), and long term (4 year) chart showing mark ups that I made.
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11:41 UTC 15 Jun 2010 