Friday, May 31, 2013

5/31/13 - EOD Update

The market may be looking to target 1600 now where C=A.

I tweeted earlier that my gut was saying the bearish triangle option was in play.

The bulls last hope is for a descending triangle now where the market needs to find support at wave a. However, with the daily MACD bear cross and a close below the 20 day SMA, I'm still leaning towards the bearish triangle target.

Have a great weekend!
15 Min 

blog comments powered by Disqus