Friday 11 March 2011

SPX Daily Chart - 10 March 2011

     The cash SP500 broke to the downside yesterday and surely is threatening to produce a weekly price flip (if we close today below 1329.15).
     The next downside projection is labeled 2 and is TDST support at 1286.12. Below that is a cluster of support targets between 1265-70. Also noted is that a 100% projection of the move down from 2/18 - 2/24 aligns with that area.
     Bottom Line: A close below 1329.15 will turn the weekly chart bearish and lower my Timeframe Mix to a +50% reading.

No comments: