Thursday, September 10, 2009

SP Pivot?

After hitting a perfect double top (at least on this chart) on zippo volume, with RSI divergence and a potential 5 count up on an "E" wave, downside risk is high. An overlap of 990 will confirm it, but taking out a 50% retrace @1015 will be an early tell and pull some momentum in. At this point it needs to stay under 1036.50 for that bearish scenario.

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