Friday, February 26, 2010

SP 500 trading plan


Quick analysis of the SP 500 ($SPX). I see the following ; probable ABC pattern (inverted), now testing the "B" level (our main resistance channel, also confirmed by the 50 days simple moving average). Focus on the "warning" level (1085).

Based on current chart pattern, I see the pink arrow as the most probable "next move"

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