Friday, June 4, 2010

S&P 500 Harmonics

The 1107-1108 level on the SPX is critical to revealing the short term bias of the market. If the 1107-1108 level is surpassed, the market will likely advance to the 1120-1130 level.

We are definitely entering into a period of 'interesting times'.

The graph below depicts the Harmonic Levels which could serve as targets in the event that the markets break to the downside during this Energy Date period.
A break below the 1044 level would probably be followed by a VERY quick drop to the 981-1006 level. If matters were to get out of hand, a mini-melt down to the 875-876 level could occur.

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