I ran some numbers. We have some room to move up within the
current move down. If it lasts, then the rough target is
1222.80. The time frame is Friday, June, 30, or earlier.
The move down will be cancelled if we close above 1286.36
this Monday, or 1279.61 this coming expiry Friday. We'll
have a low risk buy signal if these levels are exceeded on a
closing basis. We'll
get stop-reverse long on a break of 1260 or so. The yellow
crash flag will occur if we cross 1222.80 much earlier than
by the end of June, such as next week. The lower support
levels are 1149.38 for Monday, 1159.60 for Friday. These
levels should produce a meaningful bounce, and a buy signal!
They will also put out a red flag for the BK, if they are
reached next week, which is much earlier than the end of
June. In the event
they don't produce a huge bounce, well, the next level
is post-crash bounce, starting at 490-500 SP cash (gulp!).
That level is highly improbable, so I post it just to
laugh at it -g- |
