"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Thursday, April 19, 2012

S&P 500's progress

60 minute chart updated showing a drop back below the 60 period EMA.  A break through resistance targets above 1410, but for now at least the bulls don't look quite so brave as a couple days ago.  The market is whipsawing around in preparation for a move that in my opinion will lock and load some pretty pertinent tactical objectivess. 

This is a short post.  Subscribers got a long one in pre-market.  The market's short term direction has a big hand in the events expected to play out over the next few months. 










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