Saturday, May 12, 2012

1343 Low to be tested early next week?

Seems like all the choppiness in the last few sessions fit into a W4 after all, so it looks like the 1343 level will be tested (if not broken) early next week. The trend avg continues to descend and at this rate it will be in the 1360's by the time the market decides to start a real counter rally. Perhaps the Facebook IPO will be a good excuse to spark the bounce, we shall see.

Have a great weekend.

No comments:

Post a Comment