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.

Saturday, February 11, 2012

SPX WEEKEND REVIEW

I believe there is still more upside ahead for SPX and the market till about 1380-1385 before a reversal. Though the charts are indicating weakness, there is room for one more leg up before the reversal. (Keep in mind that the charts will determine my action).

Monday is likely going to be another down day for the market before it moves back higher setting up the last leg up before a strong reversal. The 1380-1385 level will be key. So look for shake up of both bulls and bears this coming week. Bull fakeout then Bear fakeout then Bull fakeout for a huge drop.

I'll do more chart review over the weekend. Though unlikely, any changes or additions will be made by 9am New York time on Sunday. No changes thereafter.

SPX-WEEKLY

SPX-DAILY LONGER TIMEFRAME

SPX-DAILY LINE CHART

SPX-DAILY

SPX-30MIN LONGER TIMEFRAME

SPX-30MIN SHORTER TIMEFRAME
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