No replies to this topic

[hiker]

1. the June and July lows for market index values generally have the same timing as the June and early July lows for BP and GS (GS achieved its 52wk low)

2. BP and GS both experienced news-related buying panics late this week, and both news events have been much anticipated:

BP - anticipation of the well shut-in / relief well completion

GS - anticipation of the settlement with the SEC

3. question - now that these BP and GS much anticipated news events are nearing their final digestion phase and pricing phase ...how will the overall market react?

NYA weekly chart view for Stockcharts.com extra levels subscribers: plot of the 13-week ema relative to its $7083 horizontal pivot value for this ema:

http://stockcharts.com/h-sc/ui?s=$NYA...amp;a=164062271

Edited by hiker, 16 July 2010 - 09:48 PM.