Friday, October 14, 2011

SPX Shampoo Trade Is Developing

SPX is in inverted head and shoulders formation. There is a neck @ 1220, head @ 1075, left shoulder @ 1120, and the right shoulder is now going to develop. Ideally for bulls, the right shoulder has to come in higher than the left.

Right shoulder targets are: 1166, 1155, 1148, 1136, 1131, 1120.

Stay tuned for my updates on this developing trade...

Update on Oct 17 @ 8:22 pm edt
I believe this trade is on now. Retracement to 1156 is in order.

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