Tuesday, August 3, 2010

EOD - 8/3/10

SPX - 30 MIN
Looks like a wave 4 is playing out or if this is a larger ending diagonal playing out, it may very well be wave b of 5.

1140-1150 looks like a good potential target either way.

The market was able to hold 1120

 The minor pullback today fell right on the broken neckline. Will this backtest hold before bouncing higher?

In the event the inverted head and shoulders on the chart above is drawn incorrectly.

SPX - MACD Centerline Crossovers
A backtest  of another trendline.
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