Posted by burkmere on 21st of Mar 2011 at 02:31 pm
There is still considerable resistance at the 20dma and 50dm on
the spx. That level is about 1303-04. Until we get a clean
break up from that level, I won't be looking for another leg up
from the recent highs in the 1340s.
If that level is cleared look for a test of the 1315-1317 gap as
I showed earlier which would be a measured move. This would
squeeze more shorts and empty the bus.
Still considerable resistance..
respecting the trend?
Posted by burkmere on 21st of Mar 2011 at 02:31 pm
There is still considerable resistance at the 20dma and 50dm on the spx. That level is about 1303-04. Until we get a clean break up from that level, I won't be looking for another leg up from the recent highs in the 1340s.
If that level is cleared
Posted by steve on 21st of Mar 2011 at 02:33 pm
If that level is cleared look for a test of the 1315-1317 gap as I showed earlier which would be a measured move. This would squeeze more shorts and empty the bus.
get ready to push higher!
Posted by perthx on 21st of Mar 2011 at 03:09 pm
get ready to push higher!