this price converges with R2 from the daily of 1469/1470
of the recent ten 60min price candles, most of the candle bodies have been above the 5sma on the 60min chart..if price turns down below the 5sma on the 60min for successive candles, this could be an early warning sign that Friday's low may be retested.
--------------
today's price advance has stalled so far at the 200sma on the 15min SPX chart
on the 15min, the configuration of the 5 and 15sma's does not show relative "power" to this move up. the bullish crossover of the two MA's has been in play since about 3:30 pm on Friday
--------------
will be posting updates, if any, at my TT blog -
http://www.traders-t...?...;blogid=26
Edited by hiker, 13 August 2007 - 11:40 AM.
