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Wednesday, June 15, 2011

Wednesday

16:40




13:30
Watch the internals. 200 DMA will provide support but as it stands the bias is still down. Breaking the 200 DMA should take the market to the 3/2009 trend line(not shown in this chart). At this trajectory Price should meet the 309 at about 1247.

I'm looking for the market to consolidate here before breaking the 1257 to 1264 range. Watch the for volume pick up into the move.




13:00

I've redrawn my forks.







I may have been wrong.

This red fork may hold. That fork will be the signal.

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