Thursday, 28 July 2011

S&P

Ideally we want a lower daily swing  below 1333.5 but that may mean having to enter at lower levels (although a safer signal)...if wanting to be more aggressive Thursday's high (a 2nd LH but above 1333.5) could be s/l,or even yesterday's high
 Breaking the 2 ema's is not positive for the bulls and a fresh bear cross might be deadly


on the murrey math chart the 2 swing lows near 1250 might be an initial target...1240 would be equality with the first run down.Also need to watch support from the 1x1 on Dino's chart (earlier post)

obviously a "deal" from Washington could produce a violent rally,so caution is warranted.I am not convinced any such rally would be sustainable though

No comments:

Post a Comment