Thursday, September 13, 2012

S&P 500 ~ Pre-Market Warm-Up ~ 13 September 2012

The SPX has been trading in a very tight range for the past week - around 1336 +/- a few handles:

It looks like the SPX is forming a triangle again. Usually, such triangles break to the direction of the larger trend (i. e. up). However, I'd like to get some confirmation first, which is a break above 1440ish. If we get it, we should see a move to at least 1450.