That sounds about right, as there is a lot of support in that area. The 100dma is about 1316, and the 50dma about 1312… so that seems logical (not that using logic in this market ever worked… LOL)
I see another move higher tomorrow morning Robert, but I think we’ll see some selling in the afternoon to start our B wave down. But next week we should see our C wave up…
SPX Chart: http://niftychartsandpatterns.blogspot.com/2011/07/s-500-intraday-update.html
Wow, they are turning the 30, 60, and 2 hour chart back up on the qqq’s. I’m sitting on the sidelines for now.
Good morning all…
http://seeker401.wordpress.com/2011/07/21/the-next-2-days-are-critical-watch-the-markets/
ES Chart: http://niftychartsandpatterns.blogspot.com/2011/07/es-near-resistance-levels.html
i noticed that. futures IWM right around 83.1—that’s like a magnet price. i think IWM is heading to 85
today’s range was so narrow, that my overnight charts won’t have any clear direction signals, for a couple of days.
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That sounds about right, as there is a lot of support in that area. The 100dma is about 1316, and the 50dma about 1312… so that seems logical (not that using logic in this market ever worked… LOL)
We will correct to around the 50dma then rally imo…..
I see another move higher tomorrow morning Robert, but I think we’ll see some selling in the afternoon to start our B wave down. But next week we should see our C wave up…