OMX Stockholm 30 Index |
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Comment: In May and June this index stalled in the 1170 area, a potential ‘double top’. This is also the 61% retracement level of 2008’s decline, one standard deviation above the long term mean, and one that capped in 2006 and again in 2008. Weekly Ichimoku moving averages have inconclusively crossed to suggest a short position so we would wait until the 50 and 200-day ones do too. Momentum is already bearish and the index is not oversold. Note also that historical volatility is currently Read More...
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