Monday, May 21, 2012

S&P 500 ~ Pre-Market Warm-Up ~ 21 May 2012

The SPX is still inside a declining channel and as long as it stays inside it the short-term trend is down.

We hit the support at 1293 on Friday so we could see a rally here. Possible targets if the channel is breached are 1312 (high on Friday) and the 1330-40 area.