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Tuesday, May 26, 2009

ProphetCharts: SPY


WOW!.......what a fast Bounce today.......my analysis over the weekend, I neglected to draw in the lower purple assending line connecting the lower low and the higher low from 5-17 to 5-21....and i also missed the over nite low support bounce of the s&P futures which run 24 hrs globaly....had i done a better job here, we might have caught this bounce....that said, i still didn't think we would get a straight up rocket!...the bears didn't even put up a fight at the 89.25 pivot or the 90.00 friday top or the 50% fib...maybe we get a bit of a correction down to the 90.50 to 90.00 zone and jump on his rally up to the 92.00 target zone.....


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