The SPX pierced the trend line going back to August. Considering how much the SPX has moved down in just three days a close below the trend line would have been rather difficult due to short term oversold conditions. It was a warning shot though that a trend may in fact be changing. Irish elections are on Friday and that may very well be a warning shot of its own to senior bondholders.
Great stuff all week, thanks! Added to blogroll as well.
ReplyDeleteThanks. Glad you enjoyed. I'm launching a new site in about a week to expand on the blog. When it launches, I'll post a redirect from this site.
ReplyDeleteLet me know, great work here.
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