Friday, June 7, 2013
SPX - Rebound or new upward wave?
As described in yesterday's post, the market has had the reaction expected from 1595 to 1600.
Now the real questions are:
wave x is over so a new upward wave is started?
or this is simply a rebound from an oversold's situation , due to the touch of uptrendline / MA50d ?
The first hypothesis requires, at least, the breakout @ 1646.
Today important job's report.
Have a great trading day ... with care!