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Wednesday, September 12, 2012

Daily update 9/12

SPX made a little progress today.  The COMPX did not retake the break out level yet.  Here is the daily SPX chart.

So far the 1440 resistance area has been a bit of trouble.   Not too surprised.  Everybody is waiting on the FED tomorrow.  I suspect we will know a lot more after that. One of two things is going to happen here.
Either more indexes are going to break out, or the ones that did are going to fail.  The bulls are loud and vocal, but the market has not followed through on the upside in any significant way.  Failure is still an option.

Chart practice has been updated with CSCO the stock today.


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