Tuesday, January 4, 2011

S&P 500 ~ Intraday Update 1 ~ 4 July 2011

The pullback continued today. The SPX found support at the 2010 high (Dec 29th.. : )) and the 62 % retracement:

Hard to tell whether wave (v) is extending (i.e. today's low = ii of (v)) or yesterday was the top.

If you have a look at the ES it looks more like an a-b-c since yesterday's high, so wave (v) is probably extending and 1290-1300 is coming.

Important support remains at 1254.