June 9, 2012

  • Weekly candle nearly missed a bullish engulfing pattern.
  • Week candle shows crucial resistance levels at 1334 and 20 week SMA.
  • Falling wedge breakout looks intact Bulls need to break 1334 to extend gains.
  • Above 1334 spx may touch 1357 levels.


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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore