If it were not for continuing Greek austerity wrangling, I'd have probably already gotten bearish against the SPX (and other indexes) for a trade and an indirect hedge. I may still do so imminently but, is it so hard to imagine more chop, then some Greek happy talk and then markets gunning upward in a final flurry through targets?
Still, this hog is severely over bought, sponsored by greedy, late-coming money and it is AT TARGET. This chart notes two separate measurements that roughly calculate out to 1360. Also, there is the matter of very notable visual resistance. Back when NFTRH began managing the 1340 to 1360 range I had no clue why or how SPX would get there. Only that those were the measurements once 1220 first, and then 1260 resistance levels were surmounted.
http://www.biiwii.blogspot.com
http://www.biiwii.com
Still, this hog is severely over bought, sponsored by greedy, late-coming money and it is AT TARGET. This chart notes two separate measurements that roughly calculate out to 1360. Also, there is the matter of very notable visual resistance. Back when NFTRH began managing the 1340 to 1360 range I had no clue why or how SPX would get there. Only that those were the measurements once 1220 first, and then 1260 resistance levels were surmounted.
http://www.biiwii.blogspot.com
http://www.biiwii.com
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