Friday, 9 March 2012

S&P will come back down

 As anticipated by yesterdays report, S&P topped around 1365. I see this as important resistance. My most probable scenario is that we made wave B up or have a little more up. Another down move is expected. This count is invalidated above 1380. S&P was rejected at the middle pitchfork. The next most possible scenario is that a smaller degree wave 4 has ended and we move impulsively to new highs.

EURUSD still holds the bullish scenario. 1.31 is important support that should hold. Otherwise we will have to rethink our count and possible senarios.

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