Thursday, February 24, 2011

S&P 500 Breaks the Uptrend Support

S&P 500 closed yesterday below the rising trendline for the first time since September 2010.
Directional Movement generated a Sell signal, the Trend strength is fading with Momentum and ADX both showing weakness.

Wednesday, February 23, 2011

USD/CHF buy signal

Swissy is trading on a Support level that held the last 2 breakdown attempts and technical indicators are close to giving a buy signal.

I might be a bit early for the move up the risk around 0.9343 is fairly good given the potential reward of targets around 0.9550 and a potential break of 0.96 with scope of the upper resistance band around 0.9780.