Wednesday, December 12, 2012
The market turned at the top tine of this blue fork. Three times has this fork been tested. A small parallel fork within a larger fork has developed. I don;t know what will happen, but a break below 1422 would send fear into the heart of the Bulls. 1422 was the target I previously named.
I have marked these support levels with rectangles.
A close below 1428 SPX would cause the candle sticks to wait for a bearish confirmation. It's a bit mixed right now, and a large decisive move up or down may help indicate the future direction of the market.
So let's wait and see which way the market breaks
Posted by Robert Campbell at 20:57