LOL, bulls did some damage this week. What else can we say :-)))))))
The spx weekly chart flattened out and finished up higher by the end of the week. With many things in focus for next week, and the new fed chairman Janet yellen at the helms, the market is still looking strong from a technical point of view.
As earnings reporting has finished, the market is probably going to focus more on the economy and other things next week.
Even though the fed have agreed to start tapering, there were a few cracks in the market, however the more this word tapering is used, the more people get used to it, and factor it in to their trading I think!!!!
For now as you can see, the rising channel and underlying support sitting in the mid 1700's is being support. So next week we will see if this can continue.
|spx weekly chart index|
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