Thursday, August 9, 2012

Gun to my head the SPX gyrates off 1402 Friday

Updated SPX chart below showing today's move off the open.. we got the gyration off 1402 alright-

5 min 
We have reached the apex of a wedge/pennant.. or better yet a precipice .... We are either going to take tomorrows import/export data at 8:30 am ET in stride (expected to show improvements in prices) or we discount them and the spoo falls... 1398 first level of support on downside followed by 95s.... upside clearly 1407.14 (Tuesday's high) then 1410+
30 min SPX
15 min SPX
1 min SPX