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If you are trading the S&P or the E Mini than
you would be looking at a short term chart. Price is currently in an up
move and has retracement down to a target price that should act as temporary
support. In order to restart a move higher price would have to go through
1345 and if that happens the first price objective would be 1363. In the
past target prices have acted as support and resistance for this index.
Price stopped just short of the second price objective for this move
higher. Right now the is upside pressure on price on this time frame and
there is also divergence at the low. If you are short it is better to take
in your short and wait for a new entry price for the move lower. Price may
not go higher from here but why risk a lose and if price move lowers you can
always re-enter the trade. At this time price would have to hit 1322 to
re-enter the down move and then the first price objective for that move lower
would be 1307.
For a longer term analysis of the S&P go to www.delta100.com . It was done over the
week-end.
Caution is always the better part of valor.
----- Original Message -----
Sent: Tuesday, April 15, 2008 4:53
AM
Subject: [RT] Don't see that we have
bottomed--even for the week.
Quarterly
Chart-Attached
Monthly
Chart Attached
Weekly
Chart Attached.
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