Short Term Trading Member Forum

[techcharter]

SPX Looks Toppy

The choppy crawl higher the last 6 days in the SPX futures marks the 3rd advance out of the November lows. The first two had narrow channels and sharp moves higher. This advance is completely opposite. Sharp advances were met with sharp pullbacks before grinding higher. This is an ending diagonal or part of the last of a larger corrective move. 1425 area is heavy resistance.


http://charts.insidestocks.com/chart.asp?sym=esz2&data=Z60&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