Monday, 2 April 2012

S&P gathers fuel for a move higher.

My view in s&p as mentined many times during this past month has an upward bias. Holding 1385 might push the index towards 1450. I give however more chances to a consolidation between 1410-1390 for a week and then a move towards 1500. If 1385 is broken then it can test 1340. If that is the case then it will take longer than a week for this correction to end. However this might be the most bearish scenario for me for now. After a correction towards 1340 the targets will move above 1500. Long exposure in this index is preferred near supports.

5 comments:

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