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Monday, June 28, 2010

S&P 500 - Time for the next leg lower towards 1,050 area

Not that I have much new to add, but I think we will see the next leg lower towards the 1,050 - 1,051 area today.
I would expect 1,081.68 protect the upside for a decline towards 1,065 and maybe even 1,055, before the next consolidationphase sets in.

At no point should we see a break above 1,086. If 1,086 is broken to the upside, we should see a move higher towards the 1,100 area, before the next leg lower will be seen.

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