Oct 19, 2011

Short term update

I was sick the weekend and did not have the power to write something...

The idea is the histogram is too high and the NYSE McClellan Oscillator is at extremes so I expect a correction (see the charts from the weekend).
Last week I has shown 61,8% retracement, but this is the maximum target. I do not think that SP500 will correct so much.
Look for something like this on the chart - 38,2% retracement around ~1170, worst case 50% Fibo retracement ~1150.

No comments:

Post a Comment