SPX Weekend Update: Pullback As Planned
In Capital Markets on Fri 6 Jul 2012 at 16:29
S&P 500 Futures (ES/) charts:
ES (daily)- notice this week’s bounce off resistance of a symmetrical triangle (blue-dotted) ~1368; now the focus is on the ST rising wedge (blue) providing 1st support 1340-50 & the LT rising wedge (yellow) as 2nd support 1320-30.
ES (daily/weekly/monthly)- LT trendline support (dotted-yellow) and rising wedges (yellow & blue).
Week-end closing prices (4:00 est):