Monday, February 27, 2012
SPX vs Delta Cycles
Today's day session range estimate is 1350-1360. A
rally from the November 25 low at 1147.50 which matches the size of the
October rally would bring the ES to 1370. The May 2011 top was at 1373.
After that top is exceeded a drop of 50-70 points again becomes likely.
But even so I expect the market to move well above the 1400 level over the next few months.
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