This shows how a symmetrical RS would form with things chopping
around today. The bearish view would see a strong breakdown of this
early morning chop below SPX 1275 area. Notice that S1 is at
1275.89 with S2 down at 1263.92 and thus the importance of this
area.
SPX 10
Posted by steve on 15th of Jun 2011 at 10:08 am
$SPX
This shows how a symmetrical RS would form with things chopping around today. The bearish view would see a strong breakdown of this early morning chop below SPX 1275 area. Notice that S1 is at 1275.89 with S2 down at 1263.92 and thus the importance of this area.
Once S1 was lost the
Posted by steve on 15th of Jun 2011 at 12:26 pm
Once S1 was lost the SPX went right down to S2
and once that was broken
Posted by klatuu on 15th of Jun 2011 at 12:32 pm
and once that was broken it headed to S3, so far just a point away. (on ES that is)
$SPX.X is getting near the 200dMA at 1256 so far