Tuesday, September 22, 2009

SPX Monthly line in the sand

2009-09-22_2247

Patience, patience…

SPX set new closing high today, therefore perfecting Weekly Sell Setup

Risk Level for Active TDSetup sell is around 1080.40 – has not been violated and lining up with “blue line in the sand” 1082 area on monthly chart.

EUR/USD hit upper channel and primer for immediate reversal

2009-09-22_2110

The only REAL Question I have at this point is:

“Will it be [1] just a steep correction to 900-950 area OR [2] beginning of multi months down move?”

I stick with #1 until proven wrong.

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