"The S&P 500 emini contract is pressing towards yet another probe of key support along the 1100 level, which also doubles as the rising 200-day moving average at 1099.70. As long as that support area contains any forthcoming weakness, with an overshoot into the June 8 up-trendline at 1095, my pattern work will consider all the action since the June 15 high at 1111.50 to be a sideways rest-digestion period ahead of another upleg...
http://www.stock-investing-software.com/commentary/articles.html?next=14422
Ian
This week's "Tools of the Trade": http://snipr.com/tools-of-the-trade
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This week's "Tools" topic: "I thought it would be nice to share some of the stuff we are doing in the Research Lab here on the Market Toolbox blog...the S&P 500 has traded at the 1111 level 36 weeks in the last 12 years. We found ourselves at this same level last week...mid-way between the April 26 high and the May 25 low. Almost exactly at the 50% retracement from high to low." Which way will it go?
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