POWER DATA ONE WEEK AHEAD - Provides an 80% Correlation to the SPX

Friday, September 10, 2010

Spt 10th EKG & later commentary

Didnt finish as low as pictured, but I really didnt expect it to, unless Monday
starts out that way to finish. If trading were on Saturday, the down leg went further.
otherwise, its a good pre visualization of the day ahead
Much to do about nothing
near repeat of yesterday

We mentioned spx 1110 as strong resistance at the 78% retrace level
1130 is 100%, and that still does have potential

Just in case they do move higher, that does NOT indicate a NEW BULL RUN
mainly because there can be an X wave higher in whats called an irregular wave;
this type of wave CAN also indicate a severe sell off immediately upon completion
be that Today, Monday or SPT 20th


1 comment:

after8 said...

small cit,scheduled for 2:00,may be a high if only for a short while.i dont anticipate much higher today anyway,even if it is 9/11 anniversary tomorrow.should close positive but maybe only just,if i was forced to call it.