SPX hourly

As long as SPX holds above 1131 pivot, the hourly uptrend is intact and we should move higher towards my SPX 1165 target. A break below 1131 tommorow is an exit signal for longs, but not a setup to sell short. If we break the SPX 1131, i would expect a 1-2 day bottoming process before an assault towards 1165. If i get any sell signal, i will surely post here. Keeping it simple.

Edited by NAV, 18 January 2010 - 08:41 AM.

A drop here by month end to 1080-1100 range to be followed by a rise to 1200 or so in feb is what i am looking..

Its been 46 trading days since 1080 last printed. We're going to do it again in 9? Yikes!

Edited by selecto, 18 January 2010 - 09:05 AM.

[quote name='NAV' date='Jan 18 2010, 05:38 AM' post='502559']
As long as SPX holds above 1131 pivot, the hourly uptrend is intact and we should move higher towards my SPX 1165 target.



agree. I think this support zone will give way later in the week after a bounce attempt.