Wednesday, June 8, 2011

S&P 500 ~ Intraday Update 1 ~ 8 June 2011

The SPX is testing the 1280-85 support area again today:

It's possible to count five waves down from 1345 to 1280. Thus, if 1280 holds we could see a bigger bounce here. The first target should be the 1296ish area and if this breaks a rally to 1313ish should occur.