The market has reached new lows as anticipated. Here's an updated chart. Notice that the market is OS and on the verge of turning up. At the 5 min chart level, momentum has made a bullish turn therefore on a short term basis I'm looking higher for w.(iv). Prices should reach 1188 followed by another wave of selling pressure if my analysis is correct. Let's see what happens.Tuesday, November 16, 2010
S&P Futures: Flash Update III
The market has reached new lows as anticipated. Here's an updated chart. Notice that the market is OS and on the verge of turning up. At the 5 min chart level, momentum has made a bullish turn therefore on a short term basis I'm looking higher for w.(iv). Prices should reach 1188 followed by another wave of selling pressure if my analysis is correct. Let's see what happens.
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