Sunday, April 5, 2009

This is all I got for now.

This is all I got for now. 30m SPX chart with channel up and wedge causing what I believe is a rollover top. Indicators have neg divs. Looking at the retrace zone 760 t0 741 for the pullback and the gap fill at 770 (not pictured) and the test of the P1 trend line. I don't think it goes over 850. I have not looked at K and DE's or any other stuff yet to get a broad feel for what everyone is thinking. This move will have to be 2.1.2. I just think we're completing 1. or this will be a big C leg. I will note what I really don't like as a bear. The /ES had broken the 50% trendline and tested it (you can see the chart a few posts below. It appears nothing is stopping this upwards action at this time. GL this week.

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