Thursday, May 10, 2007

TREND Chart back on the Bull TREND

TRADING Chart - PRIME Match at 1519.00, coupled with a Breach of last PRIME Support (1515.25), going into the close of the session. Not sure if we will get a PRIME PPF of Resistance (1519.00) to go SHORT tonight...

Possible interim top, for PRICE to head back down to challenge last PRIME Support on the:

TREND Chart - Leg 1 of Bull Break (Back Door, actually) was invalidated last night as PRICE moved higher, right after the release of the FOMC minutes. PRICE is back on the Bull TREND but now, it is heading back down to challenge last PRIME Support at 1505.75.
With the impending down move, PRICE must print a higher PRIME Support (than 1505.75), in order for it to head back up to challenge last PRIME Resistance, which is now 1519.00.

SWING Chart - Still in a Bull TREND. PRICE has turned up but with a possible 2 x Divergence Top developing. Last PRIME Support is at 1482.25.

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