Monday, June 11, 2012

Globex Update ~ 11 June 2012

The futures gapped up and are currently trading about 1 % higher than on Friday:

As you can see the SPX and the Nasdaq formed an inverse H&S. The targets are 1400 and 2710. These targets are valid as long as we stay above the neckline.

If the SPX opens higher today (and at the moment it looks like it does...) wave [c] should be underway. Possible target is the 1360-65 area.