Tuesday, April 10, 2012

4/10/12 - EOD Update [7:50 PM Update]

[7:50 PM Update]

SPX - Weekly

Lets not forget about this potential cup and handle and head and shoulders. I have been watching for a handle to form and 1340 could very well do it. Notice where the 13 week EMA currently resides?

Just noticed the other mini cup and handle and the fact that the handle bounced off the 13 week EMA.

[5:48 PM Update]

Here's the other version of my SPX daily chart. Note that the red and green channel intersect right around 1345.

Keep in mind there are still several options on the chart. Bulls need to defend the wave W/1 green high at  1292.66 to keep the bullish count alive.

EOD Update



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