Market Analysis- 06/02/2013
There goes the Boon, Sell in June?
Ok lame attempt of coming up with a new saying, but either way we had a large drop on Friday that came with Heavy Volume.
My support level 1,633 was breached and I’ll be looking for more downward pressure to come in the near term. If this breach holds to start this week then watch for the Rising Ascending Trendline + 50-day SMA to be the next level of support. Funny how trendlines seem to line up perfectly with MA’s huh?