24 Jun 2013

A continued trend lower today broke the 1570 SPX points that we were pegging for an A=C target.  Although we don't know for sure if this is an ABC pattern until more patterns have formed.  What we do know is that we have hit a 1x2 trend line before bouncing and hitting on a 20ma 60min chart resistance.  A gap fill, although not necessary could help markets push up to 1630 SPX.

Mid-Term: DOWN
Short-Term: DOWN