IWM should hit its 38.2% fib level this morning. 77.75. That's the immediate level to watch.
More resistance at 78.09 (late Jan resistance, spot of several recent opens/closes), 78.78 (50% fib retracement) and 79.12 (H&S neckline).
I'm long RUT and putting a tight stop in at those levels.
Although I've been short-term bullish for a week and a half, I think this recent rally is a technical bounce.
$spx could have made a MT bottom at 1291.98 on May 18.
but what kind of bottom is the bottom, detailed analysis in the May 28 weekend report.
nonsense, utter nonsense.....dazzle us with your charting knowledge.
The MUPPETS coming out of the woodwork banging the table for rebound rally..I LOVE HEARING MUPPETS LONG IN THESE SITUATIONS....ITS MONEY IN THE BANK FOR ME AS I TAKE THIER CASH ,THEN QUICKLY PAY THE BILLS AND TURN THE REST INTO PHYSICAL P.M."S
My chart is right here with the target levels I mentioned in the first post:
The circles earlier are distribution days (see volume). The horizontal line at 1343 is resistance from January. The rest should be self-explanatory.
hehehe.. dont use this dead stock market as indication for whats gonna happen. the uncertainty about the greek election outcome will become greater with every day this election comes closer. the polls are just funny. two polls conducted the same day just show a different outcome.
more interesting than the polls are the comments you can hear now about greece. Lafarge in her Guardian interview that its payback time. Deutsche Bank incoming chief: greece is a "failed state". seems like there is a common sense growing that greece shoud leave the euro regardless of the election outcome. maybe the cost of greece leaving is smaller than greece staying in the euro.