Diary of a Financier

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):

SPX= 1354.68
ES/=1352.50

–Romeo

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