Market Review and Trends
Ernest’s market outlook (19 Aug 16)
By Ernest Lim's investing blog  •  August 20, 2016
Dear readers, S&P500 has met my technical target of around 2,188. What’s next? Read on for more. S&P500 Index Just to recap what I have mentioned on 5 Aug 2016 (see HERE), I wrote “Notwithstanding the continued bearish divergences indicated by MACD, RSI and the low ADX, my chart outlook continues to be the same as per two weeks ago. S&P500’s exponential moving averages (“EMAs”) continue to move higher with a constant degree of separation which is a positive development. The break above the trading range of 2,034 – 2,111 points to an eventual measured technical target 2,188. Strong resistance is likely to be around 2,188 – 2,200.” –> Over the past two weeks, S&P500 met my measured technical target 2,188. It touched an intraday high of 2,194 on 15 Aug 2016 before closing at 2,184 on 19 Aug 2016. Based on Chart 1 below, my chart ......
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By Ernest Lim's investing blog
I am an avid investor, trader cum remisier. I am a Chartered Financial Analyst® charterholder, as well as, a Chartered Accountant of Singapore. I have published articles on a wide range of topics on finance and investment, ranging from market / sector outlook, technical analysis and fundamental analysis etc.
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