Chip, John, et al.,
Get out your forks, here's what we have for the SP's as of yesterday's close...
The SP cash...
tscn.com
The high and low in February bisected by the low in January... in March, the market tested the lower median then rallied straight through the median, tested the median and ran right through the upper median line... in this recent pull back, it attempted to test the median line once again, but it didn't... if we rally from here, we can expect prices to touch the upper median once again... around 1560ish...
Now, the longer term fork for that market...
tscn.com
The December high and the February low bisected by the October low... the retracement in March tested the lower median line then the market rallied well through the median line and has now just returned to it... this suggests that a rally is forthcoming... the upper median line is somewhere above 1600...
Now, for the June SP's...
commoditiesfutures.com
The February high and low bisected by the January low... again, the March retracement tested the lower median then rallied right through the median line and re-tested it for one day before rallying right through the upper median line... this recent pull back was an attempt to re-test the central median, but it has not... if we rally from this level, then we could expect another test of the upper median line which comes to around 1565 by this Friday.....
Anyway, that's what the forks are telling me, I hope they don't speak with forked tongue...<g> oooohhhh.....
GZ |
