Monday, November 12, 2012

S&P 500 Approaching an important trendline

S&P 500

  • squares based on AB (the first leg from the 2009 low)
  • S&P has held above support provided by the 2x1 AE
  • 1x1 BE intersects 2x1 AE at current price levels but time does not intersect until January 2013. ( possible time for a major low and end of intermediate cycle bear campaign)
  • Note intersection of previous fan lines highlighted by arrows.

No comments: