- A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.
Friday, July 2, 2010
Why 950 S&P
Take note of the green vertical line in the green box which indicates an inverted H&S pattern. The target price from this pattern would be the height of this line which has been realized in the pink box. In other words the two veritcal green lines are exactly the same height.
A test of te breakout level is in order and should provide support for at least a short to mid term bounce. A break above the angled line in the pink box would nullify and be BULLISH to test and more than likely break above 1225 for the next leg to 1350.
A failure to hold 950 would mean a double dip to 666 and lower.