Jul 10, 2012

Short term update

UPDATE 11.07 - SP500 touched support ~1334 and bounced. Lets see how strong the bulls are.

So far the small moves have played out perfect - up to resistance and down to support.
Lets see if the prices stay in the wedge or my forecast for lower prices to ~1320 will be right. We will see divergence on the hourly histogram which means relief move up from support, but the histogram on the daily chart is till moving lower. The strength of the expected move up will tell us the story.

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