Pages

Thursday, May 24, 2012

S&P 500 direction. 2012.05.24


The S&P 500 Index reversed exactly in the H&S target level at $1.292 a few days ago.

Even though the Greek concerns are the main focus of the markets, the current prices seem to be oversold, at least on the short term.

In case of a continuing recovery, the targets are measured by the Fibonacci retracement levels of the down swing started in early May. The resistances are: $1.325, $1.340, $1.353 and $1.368. 


No comments:

Post a Comment