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Aug 07

TECHNICAL ANALYSIS BY NSFX 07.08.2013

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The main US index is losing ground even today before the opening of the spot market. If price does not spike up above 1700 then 1704 the test of 1709.5  has to wait.  If volatility continues to expand ,and given the combination of market tops and volatility compression,  the USA500 will test in a short time span area 1675, area the was a solid support and then area 1665 where there is a 200 periods simple moving average on the 4 hours time frame.  Prices could rebound from this correction in area 1623.

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