May 26, 2011: Bulls may advance to challenge resistances.

SPX closed yesterday above 1319 (which was my long trigger level). If SPX can close today in green, it would be a reward for those who anticipate the rebound and decided to buy at dip yesterday.

Asia market is in green. Europe is mostly in green. US pre-market is slightly up. All good signs plus  “China to Buy Portugal Bailout Bonds” and EUR/USD rebound may encourage Bulls some more days.

Disclosure: Yesterday I said “Contrarian play to the Bears is not a bad idea” and I did buy the dip.

Bulls may advance to challenge resistances.

Bulls may advance to challenge resistances.

About StockCycle

A stock trader and investor who tries to win the market.
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2 Responses to May 26, 2011: Bulls may advance to challenge resistances.

  1. photonfanatic says:

    Like that idea–what do you think about a gap fill to 1327.25?

    BTW, what charting software are you using?

    • StockCycle says:

      As you see, “The May 27, 2011: Bulls may target 1333.06 to fill the May 23 gap-down”. SPX had filled the gap during the intraday trade.
      I am using TC2000 I like this software. You can try the free version at freestockcharts.com.

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