5/15/2013
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Leonard Matei

Leonard Matei

www.MoneyFlow.de

S&P 500 Index

S&P 500 Index bullish

The last re-accumulation phase of mid-April has had a noticeable effect within a sound bull market.
The fear of a down fall of many investors due to general bad news has not become true.
In general during negative market sentiment the overcautious investors do not enable a major selling of institutional money at the market highs.

Mid-term to longer term oriented investors have to take sound corrections down to the 1600 level into account.
Such counter-moves are important in order to generate more stimulus for the next upmove.
From a technical perspective there is an overbought condition at the upper trend channel around the 1658 level.

In the short term the "Testing Zone" is an important support area.
My recommendation for traders is to watch out for the "Ex-Tuesdays" effect which shows a strong bias towards a day-of-the-week-effect in the S&P 500 Index.
Circulating rumors make Quantitative Easing (QE) of the FED responsible for the bullish Tuesdays.
Source: http://www.zerohedge.com/news/2013-05-07/your-sp-your-sp-without-tuesdays
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Source: http://www.zerohedge.com/news/2013-05-07/your-sp-your-sp-without-tuesdays

Leonard Matei www.MoneyFlow.de

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