Monday, August 2, 2010

S&P 500 Next Stop 1135?

Since I have received a fury of requests (well one request is a fury by my standards) for some updates, here come a few:

1) SPX Looking at the Fib Retracement on the move from 1216ish to 1002ish, next stop should be 1135, followed by 1170.

















2) SPX MAC updates -- All Bullish

Hourly 50/50 [chart below]: Bull from 1107ish (+14pts)
15-min 50/50: Bull from 1095ish (+26pts)
5-min 50/50: Bull from 1095ish (+26pts)

















3) Gold looks to me like an overtired toddler who won't go to sleep. After the bear cross I posted we immediately saw a downward thrust only to see it rally back in our face. I'm still looking for a move to 1140 and expect a ton of buyers there.

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