Tuesday, June 23, 2009

SPX - Update Daily and Hourly

Spx close below 935 = 895.10(+2.06)
Between range that I predict to very short term.
Below 908 I expect [880,893] very short term.
Below 935 I expect [790,820] medium term.
Remember two possibles scenarios:
Dont`t break range [880,893] and we will see pullback again target expect between [935,921].
Break range [880,893] and we will see soon 850.

If spx close hourly above 908 I have to reduce some shorts.
Tomorrow resistance Hourly 908,900. Macd near to invert again but have to confirm with a close above 908.
Wednesday’s Economic Data
8:30 a.m. May Durable Goods Orders
10:00 a.m. May New Home Sales
2 p.m. FOMC Meeting

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