Tuesday, July 27, 2010

Support and Resistance for Tuesday July 27, 2010

The markets are approaching a VERY powerful Energy Date time period. Monitor the Transports, Nasdaq, Russell 2000 and S&P for indications of a climax and reversal. The ensuing downside will be horrendous.

R3 1128.72
R2 1124.15
R1 1119.58
PIVOT 1110.44
S1 1105.87
S2 1096.73
S3 1092.16

Transports and S&P have met lower boundaries of an A-B-C corrective structure.

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