The S&P confirmed the expected weakness that favoured even a 1210 undershooting giving us the chance to close our shorts made way too early! The closing was weak last night, well below the low of the previous session suggesting further weakness and this should mean a 1200 undershooting!!
The indicators of the daily chart are still positive while those of the s/t ones are mixed supporting some consolidation. Only an hourly closing below 1208,00 will support direct lower levels.
While above 1223 we expect an extension of the correction toward the 200 hours line at 1245,71. Move that we want to sell again!
Click here to read the full report:
http://www.easyforexnews.net/wp-content/uploads/2011/11/SP500-11.02.pdf
FUTURE TREND RESEARCH