A simple approach to interpreting the stock markets moves and waves
Monday, March 11, 2013
Waiting for a pull back
We expect 2 pullbacks, a small one right here and a larger one when this leg has completed (another 10 or so points on $SPX upward left). But, life is full of surprises, too.
Our research suggests that we need to keep our eye on a midterm target (1,563), but focus on short term moves that validate our target: Current down-trend should find support at 1,542-1,535-1,512.
Thanks for your updates, love to read your straight-forward and accurate analysis. Keep it up.
ReplyDeleteAny thoughts you can relay on your expectation of magnitude for the larger pullback?
Our research suggests that we need to keep our eye on a midterm target (1,563), but focus on short term moves that validate our target: Current down-trend should find support at 1,542-1,535-1,512.
ReplyDelete