The next target should be 1430ish once again. I doubt that we'll get such a big rally before the election is over though.
Monday, November 5, 2012
S&P 500 ~ Intraday ~ 5 November 2012
The SPX hit the support at 1407ish a few minutes ago and has already rallied nicely since then:
The next target should be 1430ish once again. I doubt that we'll get such a big rally before the election is over though.
The next target should be 1430ish once again. I doubt that we'll get such a big rally before the election is over though.
S&P 500 ~ Pre-Market ~ 5 November 2012
The SPX hit the strong resistance at 1430 on Friday and then reversed. We even hit the 1435 level which I mentioned should be important for the medium-term trend.
Thursday, November 1, 2012
SPX ~ Intraday ~ 1 November 2012
The SPX breached the range early in the morning and then rallied to the next resistance area at 1430ish.
As you can see in the chart, the 1430ish area is some heavy resistance. So, as long as we stay below it, the medium-term trend is down.
A rally above 1435 though, would change the trend again, and a rally back to the highs should follow.
As you can see in the chart, the 1430ish area is some heavy resistance. So, as long as we stay below it, the medium-term trend is down.
A rally above 1435 though, would change the trend again, and a rally back to the highs should follow.
S&P 500 ~ Pre-Market ~ 1 November 2012
The SPX almost hit the 1421 level yesterday morning and then sold off to close virtually unchanged for the day:
We''ve been stuck in a small trading range since early last week (~1407-19). If it breaks, the downside target is 1395 and the upside target 1430ish.
We''ve been stuck in a small trading range since early last week (~1407-19). If it breaks, the downside target is 1395 and the upside target 1430ish.
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