Sunday, November 25, 2012

An All Time High For SPX In 2012?

SGS is Long (As of close of 4/30/2012) 

Indices rallied last week as Big Money aggressively bought the dip into SPX 1340's.  SPX seems to be forming an Inverse H&S with its Neckline around 1430 to 1435 (thick green).  There is a good chance that SPX rallies to the neckline this coming week and then selling off to 1410 - 1400 to form the right shoulder. After that a rally pass the neckline signals a move to lower 1500's and possibly a melt up to higher 1500's.

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Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.