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Sunday, November 14, 2010

S&P 500 - Fifth failure top confirmed ?

The break below 1,195.85 has raised the odds, that we did see a fifth failure at 1,226.71. As it's very dangerous to count fifth failures I would like to see a break below 1,184.06 too, but as I said the odds has risen dramatically. However a break above resistance at 1,218.71 will once more turn the picture bullish for a new go at 1,226.71 and probably also the 1,242 - 1,246 area.

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