Dec 11, 2012

Short term update

UPDATE: Ok FOMC is behind us and as expected the indexes have been pushed up... the big players are playing dirty as always - SP500 overshooted the resistance zone 1435 and reversed hard. We have short term top - shooting star on the daily chart and divergences on the smaller charts. Next target the area around 1415.
P.S. not posting a chart because nothing has really changed see the chart bellow.

UPDATE: Upps there is FOMC meeting on Wednesday they will hold the indexes at this levels until the meeting.

Ok perfect hit of the upper resistance line:) It looks like that the pullback has begun right on time. EMA50,support and the middle trend line are around 1415. Reaction with the same size like the previous two 1434-24=1410. So watching the 1410-1415 area for now. Bellow 1410 will mean expect move to the lower target 1390.

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