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[Rogerdodger]

Last Friday, we went past Brownsville to Padre Island.
Hope you took lots of sunscreen and avoided the scorch this week.
IF we see a bit of weakness near here, it might just be a TYPICAL pause to refuel.

The 200 DMA should be an area that "they" will defend.
RSI shows a positive divergence but MACD looks like the kiss of death.
I can't EW, but it looks like 5 waves down.
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&b=3&g=0&i=p41261564129&r=1338558549395.png

We will see if the typical June strength can start from Houston Brownsville.
(Brownsville is a city in the southernmost tip of the state of Texas)

Mike Burk Chart

Edited by Rogerdodger, 06 June 2012 - 01:41 PM.