Thursday, June 18, 2009

Here it comes...

The slide has started. We have a rising wedge on the 1 minute, so we should open down a bit tomorrow.

The daily stochs are very oversold at the moment, but we can stay oversold for awhile.

BPSPX:CPC has not officially crossed, but its damn close. So this hasn't confirmed the slide yet.

CPCI:CPCE has confirmed the slide has started.


Anonymous said...

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Last analysis of SPX.

Spx close below 935 (918.37)=(+7.66)

Below 935 I expect [880,893] very short term.
Below 957 I expect [790,820] medium term.
If spx close hourly above 928 I have to reduce some short.

Important tomorrow a close above today high but remember the resistance. Let see, market close today again above MOV (917.82), if tommorrow close above today high, confirm that will attack resistance 928,935
See daily charts green line. Sometimes when we have a pullback the first close above MOV don`t garanties upside.

Tomorrow suport Hourly 915. Bear will try to break that and change again MACD hourly.
Sentiment - Vix try to not break 29.60 (gap/open monday and last high broken)

Click to zoom in.