Friday, June 11, 2010
ChartsEdge Pattern Recognition map for 6/11; and my comments on SPX and Euro
So, does a high this morning give big cash-account players the chance to unload what they bought long on Tuesday around those lows that tested 1042/1044?? Will be interesting if that's the case. From Tuesday, the 3-day hold makes selling today a chance to lock in profits from a good 3-day swing. Can it really be that easy? We know the markets are nearing resistance including the SPX 1090 and even the euro at 121.10/121.40 (though 123/124 is still there if $XEU does move higher). And there remains downside risk into opex week next week....!
Looks like Mike Korell posted his Pattern Recognition map (thanks again Mike for permitting us to share it here too!) at his ChartsEdge Daily Maps site last night, at his webpage http://www.chartsedge.com/wp/
=============Mike Korell | Filed under: One-Day Market Map | No Comments »