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Friday, October 22, 2010

Friday Updates!!!

11:36, The Bollinger bands are starting to tighten up as today's price action has been stuck in a 3 point trading range, so much for a bullish POMO day.
This is a daily chart of the SPX with the most important channel lines that have been respected over the last year and a half, currently the middle blue line is providing resistance with multiple hits over the last few days.
Click here for a live, and updated chart!!!
The SPX has dropped thru final support of the dark green bullish Fib fan that started in mid June, and now is in the middle part of the bullish fan, a break below the current fan line of support would put it in the least bullish part of that fan. Any serious sell-off needs to break down below the 1150 area to clear the shorter-term fan. Long-term support is now at 1125 from the neon green fan.
Click here for a live, and updated chart!!!
7:08, The SPX is in a short-term bullish Fib fan this morning.

1 comment:

  1. This series of waves from April26th could END the way it started- ALA May6th
    only this time, no reprieve

    NEXT WEEK OR BUST

    See dow April- 1940
    ????
    Jay

    ReplyDelete