Tuesday, 6 March 2012

S&P topped and starts a correction....

S&P has most probably topped wave 3 and starts a 4th wave correction with initial target of 1310 area. 1350 however still holds and must first break and close beneath that level to be more sure regarding the top. There is a good chance also that we will have a final thrust upwards towards 1400, but wth weak eurusd and commodities this scenario is getting weaker. If spx corrects now towards 1310 the upside targets move closer to 1450.

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