Wednesday, March 16, 2011

S&P 500 ~ Intraday Update 1 ~ 16 March 2011

We've got the expected sell-off to 1260 today:

It's possible that wave A of (2) is about to end and that wave B will be unfolding very soon (target ~ 1295-1305). For this scenario the 1260 area has to hold by any means, should the market break this level we could see another wave down into the 1220-25 area.