Monday, 30 April 2012

S&P top is in...

...if this is a wave 2 or B, the top is in. It has retraced 76% from April 2 top to April 10 bottom. The index has found resistance in my long term middle pitchfork line. As mentioned some time ago this was my target of counter move. Even if we are in an impulsive wave to new highs, I expect the market at least to pause and pull back a bit. The way it will pull back will give us more info which direction is the impulse and which is the correction.

No comments:

Post a Comment