Tuesday, June 26, 2012

Afternoon Delight 06/26/12 $SPX $ES

Let's make this really simple -

Minis 30m - Blue wedge and green ED support busted and developed a falling pink wedge. Pink resistance busted, price fell to red support diagonal and a small yellow channel formed today just above 1300 and major support. The PPT did a fine job today ramping the markets on bad news and low volume. We're in a waiting game filled with rumors and speculation of how the CB's will fix things while teetering on the edge of disaster.

GL and GB!

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