Monday, June 24, 2013

Charts 06-24

Some sort of ending-diagonal or bullish wedge formation like this would be needed to absorb the impact of this decline and let us bounce off the 200 DMA -- currently at 1506.

Otherwise, any kind of wave 3 that extends could do irreparable damage to the chart.  /ES is messy overnight, the S&P is back to acting like an ETF for the Yen.

SPX 06-24

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