Enlarge any chart by clicking on it.

Unless otherwise specified, ALWAYS use the 15min chart to enter my recommended plays because
CONFIRMATION is a MUST. In other words, you need to see a 15min candlestick that CLOSES beyond
the entry point, then enter when it moves 10cents after the high/low of that candlestick.

Wednesday, November 30, 2011

Point of correction

I expect the rise to continue tomorrow. Move above 1197 (not "1204") will lead to a big rise tomorrow to a High of 1216 (1215 - 1220)  (not the Close, because it will start pulling back at that point). A move above 1197 (not "1204") will also confirm higher prices to come that will likely take the SPX to about 1255 on (or by) December 13th.

Note: There is a setup in play which will lead to a big drop if it trades below 1284 which will take price down to 1170 tomorrow (or Thurday) - not likely to happen.
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