October 12, 2010

Morning Post, SPX, S&P 500, e-mini

9:53 - SPX 30m with gaps and fibs -  Down trending red thick is the busted bear market resistance line. Heavy blue is the Oct '09 S/R line. You can see the wedge coming up. There ain't squat below 52 to 30 to stop it.

Minis off 8 at midnight.

Interesting gold charts.

Nothing like a perfect HnS measurement with a rising wedge ending A-E touch and overbought as hell indicators diverging.It may still climb some, but when RSI crosses that support line you'll know for sure the job has been completed.
GL today!