Thanks, Steve. From the chart, and given the speed with which
this market is moving, the SPX could find the bottom of the
wedge pretty quickly. It looks like the daily indicators
would set up bullish divergence on a quick move lower.
Assuming the SPX undercuts 1040, there is some support
around 1020 and the 38% fib RL from the 1219 high is at
1008.
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Thanks, Steve. From the chart,
SPX 60 min
Posted by radrian on 4th of Jun 2010 at 03:51 pm
Thanks, Steve. From the chart, and given the speed with which this market is moving, the SPX could find the bottom of the wedge pretty quickly. It looks like the daily indicators would set up bullish divergence on a quick move lower. Assuming the SPX undercuts 1040, there is some support around 1020 and the 38% fib RL from the 1219 high is at 1008.