Daily pivot points and value area levels for the current E-mini SP 500 Futures contract.
Tuesday, October 6, 2009
Are we close to resolving SPX?
SPX bounced off the trendline from the March 09 lows. Will it finally break the downward trendline from October 2007 or drop back down? In any case, I think it should resolve shortly...
Good question. My guess is a brief foray into the 1200 area before the real pullback occurs..The break of the trendline will convince Johnny Come Lately's to go long providing the fuel for a large selloff. Just my opinion. Real bulls want lower prices to go long.
Good question. My guess is a brief foray into the 1200 area before the real pullback occurs..The break of the trendline will convince Johnny Come Lately's to go long providing the fuel for a large selloff. Just my opinion. Real bulls want lower prices to go long.
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