Wednesday, 28 March 2012

More sideways movement with upward bias

S&P has found the 1420 resistance and might move sideways for the rest of the week with attempts to break 1420. The trend remains up with 1385 initial support. Being above the mid-pitchfork may be a bullish sign but we might soon see a test of the support at 1400.

EURUSD has broken resistance and will most probably continue towards 1,34-35. Support that could be tested could be 1,33 level and support that should hold for trend to continue higher is 1,3250-1,3130.
A stock that I will have under serious consideration is MAKO Surgical Corp. I like the chart very much and I think over the next semester this stock will do extremely well.  First support at 40$.

 Athens FTASE20 looks like it will move lower. My view to stay on the sidelines because I don't see an impulsive wave up has saved me lots of money. Banks have been the worst performers the last few days. However I still have the view that we are in a corrective wave. It doesn't cost me to stay on the side and trade other markets (MIB, S&P, THLD, DAX) but this market will be always in my target sight as it has lots of potential in my opinion.

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