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[Master Che]

11/8/11 8:41EST ESZ11: Now Term: (today) 1262.50/75 is the pivotal support although the pivotal support at 1254.50 is far more important (up to 1283.00) 1268.50 to 1270.00 is the nearest resistance (compression gaps) Currently we’re in the 1st up extension (1275.50) Taking out 1249.75 cancels the up extension We are near various up extensions (up to 1283.00) The key pattern is as such Reaching 1269.25/1270.00 (the pattern has bearish numbers) therefore there is the possibility we fail to reach 1269.25 to 1270.00; reaching 1269.00 and pulling back, in the event we reach 1269.25 the up extension is to 1275.50, reaching 1256.00 cancels the potential up extension. In essence reaching 1269.25 should immediately take us up to 1283.00 1279/1279.25 and 1283/1283.25 are potential bounce/reversal levels at 1283.25 we have a key compression gap (resistance) and reaching or not 1296.00 has profound implications regarding the current up move. In conclusion: I’m expecting an immediate move up to 1269.00 Today should be quite tricky