Objective & unbiased technical analysis by Brian Shannon

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Looking Better

Posted on August 28, 2008

The markets are looking much better as the SPY downtrend line has been broken and we now have a short term pattern of higher highs and higher lows. The Qs are still battling with the DT line but with the rising 5 day MAs in these markets, we should now give the short term benefit of doubt to the buyers. Volume will continue to diminish as we approach the long weekend so be sure to lock in gains before they are taken from you if the market comes back in....

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highs , lows , markets , short term