Wednesday, January 30, 2013

Charts 01/30: Channel break

The decline today broke the channel wall on the c of 3 wave on the chart.  Ideally, we can cross the larger channel / expanding wedge over the next 7 days.  A zig-zag would be great here, and probably draw in enough early shorts to provide fuel for the last run to the top.

SPX 01-30

1 comment:

bmihogh said...

With this mad push today (yesterday, for me) I would say this bull 'll run for the headshot till the middle of the next week.

SP ~ 1560, maybe. With a nice gap for the last day.

We will se. I do more like your version, actually.