Cookie Policy

Chartsview Blog

The Latest Blogs from Chartsview

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Archives
    Archives Contains a list of blog posts that were created previously.
  • Login

S&P 500 daily 04/10/13

by in ChartsView Blog:
  • Font size: Larger Smaller
  • Hits: 3622
  • 0 Comments
  • Subscribe to this entry
  • Print
3622
Picture
Despite the markets' current bearishness and the concern over the US budget and debt ceiling, I think the S&P is worth a long at this uptrend support with stops below it.

This support comes from the Nov 2012 low and has played an important role since then, coming into play on at least 4 previous occasions. IMHO this is the support for Primary wave 3 so if this wave is to continue it will need to hold; if it fails then it will likely mean that Primary 3 is over and we're into Primary 4 which should be a long, volatile and unpredictable sideways drop.

The level in play here is 1664 so that's where I'll have an order with stops below 1660
Trackback URL for this blog entry.

Comments

  • No comments made yet. Be the first to submit a comment

Leave your comment

Guest Monday, 25 September 2017