The obvious fact is that we are seeing the S&P500 index holding its long term support of 1139pts successfully 3 weeks back on the weekly chart
Moving down to the daily chart, we are seeing a change in character, or rather change in trend when the S&P500 broke out of its trading range, signaling that the Aug/Sep bottom would hold.
Adding to the strong case for the bulls, the Baltic Dry Index widely considered as the purest form of economic indicator, is already on the move, breaking out of its trading range back in Aug/Sep.
The Baltic Dry Index provides an assessment of the price of moving the major raw materials by sea and is known to be one of the purest form of economic indicator in the sense that only member companies who have actual cargo/ships are allowed to trade in this index with no speculative players involved at all.
Moving down to the daily chart, we are seeing a change in character, or rather change in trend when the S&P500 broke out of its trading range, signaling that the Aug/Sep bottom would hold.
Adding to the strong case for the bulls, the Baltic Dry Index widely considered as the purest form of economic indicator, is already on the move, breaking out of its trading range back in Aug/Sep.
The Baltic Dry Index provides an assessment of the price of moving the major raw materials by sea and is known to be one of the purest form of economic indicator in the sense that only member companies who have actual cargo/ships are allowed to trade in this index with no speculative players involved at all.
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