Keep an eye on the rising wedge formation..there is a potential
HS top within this pattern as well. The question is if this can
extend higher or fails and breaks down.
Downside targets on a breakdown would be 1606.50 (conservative
HS measurement) then 1601 (textbook HS) and 1588 of the rising
wedge.
SPX 60 and 15 Views
Posted by steve on 2nd of Jul 2013 at 10:50 am
$SPX - Chart Link
$SPX - Chart Link
Keep an eye on the rising wedge formation..there is a potential HS top within this pattern as well. The question is if this can extend higher or fails and breaks down.
Downside targets on a breakdown would be 1606.50 (conservative HS measurement) then 1601 (textbook HS) and 1588 of the rising wedge.
Thanks Steve - Used this
Posted by mkrmdz on 2nd of Jul 2013 at 04:34 pm
Thanks Steve - Used this advice to buy some VIX and make a nice profit.
Bob
Testing initial support on SPX
Posted by steve on 2nd of Jul 2013 at 02:20 pm
Testing initial support on SPX around 1610 ish then targets above to watch.