The indexes seemed to have found a support on the S&P 500 at around 666.79. This seems to be close to an evil number…
Quickpost this image to Myspace, Digg, Facebook, and others!The MACD on the hourly charts for the S&P 500 is showing a divergence UP. This coupled with the sudden spike in the last hour indicates that we might have a bounce early next week. The McClellan Oscillator also indicates this. However we might be experiencing a bit of weakness in the markets in the first half of the day before any sustainable rally could happen.
Direction for 03/09/2009 Monday: Up
Crude Oil (USO)
Both Crude and USO had tested support on Friday. Today, it will be on its 3rd wave up to 31 for USO.
Direction for 03/09/2009 Monday: Up
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