3 replies to this topic

[fluid]

Lots of time and price clusters next week plus support at the moving average (50 Day), imply good support at near current levels.

[bigbud]

SPX has the setup for a momentumtop (May), a brief correction (June), a pricetop (Aug) and then the bigger correction down to 200MA (~1550 and the June lows) This is a similar setup like April 2010 and April 2011. So dont expect 50MA to hold... but may do so for a couple days Squeezing above 20MA could mean we need a bigger topping formation first

[fluid]

SPX has the setup for a momentumtop (May), a brief correction (June), a pricetop (Aug) and then the bigger correction down to 200MA (~1550 and the June lows)

This is a similar setup like April 2010 and April 2011. So dont expect 50MA to hold... but may do so for a couple days
Squeezing above 20MA could mean we need a bigger topping formation first

Thanks bigbud. Who knows, will see I guess. I would have thought the 50DMA would provide some support at this time, given the past.

[bigbud]

50MA is usually good... but looking for continuation downwards this time