Thursday, November 17, 2011

S&P 500 ~ EOD Update ~ 17 November 2011

The SPX broke the lower triangle support line at the open and then sold off around 27 handles to 1210 : )

As already mentioned a few times 1190ish is my critical medium-term support level. If we break below it wave (C) is most likely underway. As long as it holds though we could still see an end of year rally. So, the next few days will be very crucial.