S&P 500 hesitates

By Colin Twiggs
September 18th, 2012 2:30 a.m. ET (4:30 p.m. AET)

These extracts from my trading diary are for educational purposes and should not be interpreted as investment or trading advice. Full terms and conditions can be found at Terms of Use.

The S&P 500 hesitated at its upper trend channel. Follow-through below 1460 would indicate a test of the lower channel and support at 1400. Bearish divergence on 21-day Twiggs Money Flow continues to warn of a correction.

S&P 500

* Target calculation: 1420 + ( 1420 - 1280 ) = 1560

Nobody goes there anymore. It's too crowded.

~ Yogi Berra

Perfect Your Market Timing
Learn how to manage your market risk.

The weekly Trading Diary offers fundamental analysis of the
economy and technical analysis of major market indices,
gold, crude oil and forex.
The monthly What's New newsletter covers new articles
on Trading and the Economy, as well as new software updates.

Top of Page