AI
Thursday, January 19, 2012 8:47:52 AM
SP Futures 1300-1308
Good Morning Steve! Yes, seems to be a bit of manipulation to the upside here. Overnight Futures a good test of Support at 1300 has the Markets back in Buy mode for now. That is a Great longer term chart showing how most of the 'corrections/moves' seem to come in 3/5/10 Week moves. I don't think we are in a Mid 2010 pattern but it is possible. My view would be more like Mid 2011 from here. As to whether this latest upside will last 3 5 or 10 weeks we will just have to see, but I am leaning more towards 5 weeks which could have it ending by OEX. If the weekly patterns repeat then it could be 3 5 or 10 weeks of downside, giving a bottom in Feb/Mar, we shall see.
Good Trading!
Good Morning Steve! Yes, seems to be a bit of manipulation to the upside here. Overnight Futures a good test of Support at 1300 has the Markets back in Buy mode for now. That is a Great longer term chart showing how most of the 'corrections/moves' seem to come in 3/5/10 Week moves. I don't think we are in a Mid 2010 pattern but it is possible. My view would be more like Mid 2011 from here. As to whether this latest upside will last 3 5 or 10 weeks we will just have to see, but I am leaning more towards 5 weeks which could have it ending by OEX. If the weekly patterns repeat then it could be 3 5 or 10 weeks of downside, giving a bottom in Feb/Mar, we shall see.
Good Trading!
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
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