Saturday, June 30, 2012
IF minuette wave 3 is in place and it seems it, because 136.24 maybe a nice resistance, price is due for a retracement as a minuette wave 4 with a maximum target of 133.75 as the 50% fibonacci retrace shown in the chart. After this resistance is in place, minuette wave 5 up should start with a maximum target of 140 or a kiss to the orange line (HS neckline)
Posted by About me at 11:35 PM
Bullish sentiment on SPY, up to the 139/140 area as a minor wave 2, where the orange HS neckline will be a big resistance for a pullback. We have some resistance at the EOD area, so, maybe a retrace on monday, as a minuette wave 4 that can´t surpass the minuette wave 1 territory to respect the third EW rule.
We will enjoy our visit to the beautiful Philadelphia.
Posted by About me at 12:44 PM
We continue bullish with BAC. Maybe some resistance ahead on monday(watch hourly chart) but we have a probably next target of 9.15, for this wave 5 of c or something else, IF price surpass the second resistance line at 8.40. Cheers from Philadelphia!
Posted by About me at 10:30 AM