The SnP did top at the 1572/1574 area and dropped sharply to the 60 minute lower band. Amazing is the fact we still have not had a quality top or bottom. Today we have 1536-1533 as the significant support and 1560 as significant resistance. While not favored any top near the 200 day Bollinger band can be the top for this market and todays high popped above the band and tanked so it could be a significant top.
My analysis of the market has been and continues to be year 2000 top was the top and this top is an Elliott wave AB top that will be followed by a drop to the area 1994 traded in and it will get there quickly. You can see my analysis at this web page.
My analysis of the market has been and continues to be year 2000 top was the top and this top is an Elliott wave AB top that will be followed by a drop to the area 1994 traded in and it will get there quickly. You can see my analysis at this web page.
http://marketcharts.homestead.com/WAV.html
No comments:
Post a Comment