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Tuesday, October 11, 2011

S&P 500 - Short term top at hand

We have a very clear and nice five wave rally from 1,074.59 and we should very soon see a top and a return to at least wave iv of one lessor degree at 1,150. At 1,150 we will also finde the 38.2% retracement target for the rally from 1,074.59 to 1,197.
Short term look for a break below 1,186 to confirm, that the top is in place and the decline towards 1,150 is ongoing.

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