Tuesday, April 12, 2011

SPX - Daily Market Thought/ Economic Calendar 13/04/2011

Pullback extends 10pts today. After 90 pts of rally, pullback until now 30pts .
Looking to february lows can see 3 swings lows around this area= 1300`s. Stochastic oversold /EMA`s cross remain bullish.
Remeber low of last week 1305. Still looking to this area 1300`s as good suport area.
Beas remain bullish until we close daily below 1310 and change to bearish if mkt close below 1280.
Still waiting new highs next weeks base pattern weeks chart last months see here.
Win momentum above 1339.Targets if move higher:
1.ª 1355 natural target now
2ª [1367,1378] false breakout area 1344;
3.ª if close above 1378 expect target around 1415.
Click to zoom in.

Economic Calendar:
 8:30 Retail sales 
10:00 Business inventories at ,
2:00 FED’s Beige book