Thursday, September 1, 2011

SPX stop hunt before reversal?

SPX futures and cash traders (especially those who shorted 1230 cash on recommendation here), I am tracking a scenario in which we may have a stop hunt above 1230 tomorrow before the reversal of the short-term uptrend. If we trade above 1230, I see a push against 1235 and possibly a top there for the near term. That 1235 rejection may start a move down to 1150 - 60 area.
Good luck!

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