Thursday, June 18, 2009
It's looking very good. I think there are three more waves to (minuette c) left go go.
The SPX bounced off the M5, M10, and M15 Kumos. There is currently resistance at the bottom of the M30 Kumo.
The SPX managed to reverse, and break through the Pivot Point for a nice 14 point run, but was unable to sustain the momentum after it broke through R1. It closed right at the R1 level. R3 at 933 is still my target for taking a short position. That is also the near the top of the M30 Kumo and the bottom of the M60 Kumo
Analysis presented on this blog has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.
Posted by Robert Campbell at 13:09