Wednesday, March 9, 2011

S&P 500

A close below 1306 will change the complexion of the market significantly.

3 comments:

Joge said...

Is 1306 more vital than 1294? I am not a waver or TA expert but this market seems to be carving out a running flat pattern here.
what would occasion a rush to the downside?

Fibocycle said...

See this evenings update. 1306 is the low-low harmonic as well as the closing support level for this latest down swing--with the 1294.16 intra-day low being the extreme.
I tjhink Toronto may be slightly ahead of the American market and could a TSX top could suggest a change of status for the commodity bubble.

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