Friday, July 30, 2010

S&P 500 ~ Intraday Update 1 30 July 2010

ES 1084/SPX 1088 was perfectly hit this morning and we got a strong bounce.

There are two possibilities now, either that the correction finished at SPX 1088 and the SPX will make new rally highs or that 1088 eventually breaks and we'll be going for 1070.

Imo, above 1108 we'll see new highs and below 1088 we'll close that gap at 1070. Between those levels we can just guess which way it goes.