Friday, June 10, 2011

Longer Term Perspective

Transports
  • RSI entering oversold
  • Nearing 200 Day ema
  • Diagonal support can be expected at downtrend channels
  • Target 4800~4900 (yellow highlight)
  • ADX beginning to trend


S&P 500

  • trend lines project from cycle rectangles.
  • Trend from 1987 @ 1100.
  • Midpoint of Top Structure 1170 (2002 Low; Note 1173 Nov '10 low) and 1120 (2009 low)
  • Target: 1170 and/or 1100-1120

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