Nice rally after FOMC last session. Close above first resistance area [1068,1072].
Put/call at highs all day (around 1), so a close SPX500 at highs of the session was a strong possibility.
The trend remains lower I will follow bearish view until spx closer above 1115.
I have two possible scenarios for next sessions.
Bearish scenario 1 still intact but with this close chances that we see a bottom 16/06/2010 are very small.
Scenario 2 expect false breakout 1105 possible [1113,1115] (Next minor top). Reversal there give us next moviment new lows of the year target 998. I`m looking the same pattern RSI.
Let see reaction if stochastic test overbought conditions and RSI around 50 ( neutral area).
Let see reaction if stochastic test overbought conditions and RSI around 50 ( neutral area).
Click to zoom in. Good luck folks.
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