Friday, 6 April 2012

E mini S&P/Dow, Russell & Non Farm Payrolls...Blessings in Disguise

I posted yesterday and wednesday about the Dow triple tops and today in the Russell 2000 emini we saw what was a RL touch bang on the data release. What i want to know is where next? There is no doubt this is a game changer technically. All immediate short term downside objectives have been achieved today so now until further notice it's possible we will see lower prices. The triple tops is a powerful market top and never underestimate the message it sends. We are still near the top (on a daily chart) so it is food for thought that if we saw a .382 Fib RT of just this years move alone since January it would bring us to the 1275 ( S&P June 12) but i suggest that a test of 1350 then 1300 is on the cards and highly probable. How to trade it is another matter.

No comments:

Post a Comment