SPX daily update

Tuesday, April 14, 2009

New highs were made! And now? Well, i need more data to understand better this pattern.

In the bear case, on SPX cash, since last week lows, we can see 5 waves done. However in cfd's, SPX made an interception with the possible micro i and iv. So, in Cfd's i'm count this pattern like an ending diagonal triagle or a rasing wedge. Consequently, SPX can made one more high to finished this pattern.

In the bull case (each day that pass i like less this count), SPX may will do a small retracement but must accelerate this upside with a good rally.

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