Tuesday, 15 June 2010

S&P

We got our reversal today,on the 34th day,with an inverted hammer,just below the retracement levels and the ema's.We should start to see followthrough on the downside from this setup.There was also divergence ,with some indexes not managing to make a higher high (eg Russell 2000) Forming a triple top below the 50% retracement is a strong bear setup under Gann rules.The triple top is not confirmed until we have a low below yesterdays low.

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