I will be watching on the SPX Daily Chart to see if the 9 EMA
now serves as resistance on any bounce which could then lead to a
move down to test the 20 EMA below around 1155.
My feeling is that the SPX tests lower towards the 20 EMA in the
next few days. This could occur with an immediate drop
breaking below yesterday's lows or after bouncing towards the 60
minute resistance levels (1173-1177).
SPX 10 (another view)
Posted by steve on 20th of Oct 2010 at 09:20 am
I will be watching on the SPX Daily Chart to see if the 9 EMA now serves as resistance on any bounce which could then lead to a move down to test the 20 EMA below around 1155.
My feeling is that the SPX tests lower towards the 20 EMA in the next few days. This could occur with an immediate drop breaking below yesterday's lows or after bouncing towards the 60 minute resistance levels (1173-1177).
Steve
Posted by cotrader on 20th of Oct 2010 at 10:16 am
Really appreciate your morning feel of the market, would be great if you did that every morning. Thanks!