Saturday, December 19, 2009

12/18 - SPX


Just wanted to add a little more to this chart.

For early next week, I am looking for a little more to the upside to complete either wave (ii) or (i). I have highlighted a target range for this move.

Either price fills the gap above or what appears to be an inverted head and shoulders takes price higher. Both targets fills a typical Fibonacci retracement level.

Correction: My post on the weekly MACD shows a cross. However, at the end of the day, the chart shows that it has not crossed but it is very close.

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