Thursday, March 10, 2011

S&P 500 ~ Intraday Update 1 ~ 10 March 2011

The ES breached the triangle support line at the open and immediately sold off another 10 handles down to the late February low:

So, we got the break of the triangle and now we need a convincing break of the late February low. If that happens next targets are 1275, 1260 and 1220-25.

We could see a bounce here in my opinion, probably up to the early March double bottom around 1305.

I'll have more charts later  (EUR/USD & DXY).