Wednesday, June 27, 2012

S&P 500 ~ EOD Update ~ 27 June 2012

The SPX hit the resistance area at ~1335-37 shortly before the market closed:

Today's rally might have completed wave [ii]. If we get a break of 1307-10, wave [iii] should be underway. The minimum target for this third wave is the early June low. I think wave [iii] will decline further though, probably down to 1230-50.