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Sunday, 2 December 2012

S&P500 Futures H1,H4, D1 & Weekly Update + TPI

Rationale:

I had changed an outlook for this wave 2: right now it fit both counts for bulls and bears.
Fot Bulls it is Contracting Leading Diagonal Wave1 (5-3-5-3-5) that have not been finished yet. More upside to come.
For Bears it is a clear pattern for Double Zig-Zag Wave 2, that also need one more push to the upside.

Entry:
First level to consider buying is 1407 (former resistance turned support) but I preffer test of 50%Fibo of both the swings  and 1400 round number poximity - so buy the dips into orange rectangle.
SL: below 1395 (below 61% Ret)
TP1: min: 1420
TP2: 1430

take care,
Seb





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