Friday, January 28, 2011

S&P 500 ~ Intraday Update 1 ~ 28 January 2011

The market is selling off and we left the ES channel to the downside:

So, a test of ES 1278ish/SPX 1280ish look likely now.

Update on the April 2010 analogy:

It still looks very good. The market should sell off to ~1270 now and then rally next week without surpassing today's high (above 1303 this fractal is invalid)