Wednesday, 8 February 2012

E-mini S&P short term technicals.

The rise from the 1300 continues to test the upward sloping trend line. 1340 and 1330 are important supports. I count 9 higher highs so this move might be over. 1316 is 61.8% retracement. For the market to continue higher even after a correction then it must hold this support. I believe the correction is closer than ever.....But I do not enter short trades yet......

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