Broad market index SP500 is trading in very tight range in last few days. And also volume totally collapsed.

SPX is pushed down by resistance level near 940 – 950 level . But there is also uptrend line supporting price in rise.  Also 200SMA and 20MA are near current price level. I expect that we will see stronger move soon, up or down. Till breakout or breakdown I do not want to make a lot of aggressive trades.

My swing trading strategy has now prepared stock trade setup for relative strong or relative weak stocks only.

This entry was posted on Thursday, June 11th, 2009 at 11:21 am and is filed under Stock market chart analysis, Stock market comment. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.