Wednesday, February 17, 2010

S&P500: Consolidation ahead - Update

No change in outlook since last post. In the last session, the market was in a wave iv sideways consolidation, expecting a small spike up into the 1105-1110 range, before a reversal down. We're still overbought short-term, so expecting 1110 (61.8% retrace) to be the max upside.

Once again, ignore my wave-count, and watch the trendlines and price action.


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