Short Term Trading Member Forum

[techcharter]

SPX Futures Bounce From -37

Presently -30.

The bounce is looking corrective as indicated by a clear zigzag. If the futures are anything better than the -37, then buy the morning drop and lock in a 5 to 8 gain. Otherwise look at the chart because the next leg down from the bounce has the potential to be 80 points.

http://charts.barchart.com/chart.asp?sym=esz8&data=Z10&date=051406&den=HIGH&divd=Y&evnt=ADV&grid=Y&jav=ADV&size=D&sky=Y&sly=N&vol=Y&late=Y&ch1=011&arga=&argb=&argc=&ov1=&argd=&arge=&argf=&ch2=&argg=&argh=&argi=&ov2=&argj=&argk=&argl=&code=BSTKIC&org=stk