On April 11 I mentioned that if SPX fail to move/find support at 1600 will go back down to test 1538.57 for support. On 4/11/13 SPX failed to move over 1600, moving down to test 1538.57. SPX found support there and moved back up to once again test 1600 till was able to move above, continuing up, hitting the target 1665 and closing Friday at 1667. In my opinion the next near objective is 1680/2 S/R overcoming 1682 will target 1696/1700 S/R cluster. Some retrace from 1698/70 can take it back down to test 1660 and possibly 1636 looking for support.
Just an opinion here, the market always has the last word and in due time will show me the way.
g
If you have a positive attitude and constantly strive to give your best effort, eventually you will overcome your immediate problems and find you are ready for greater challenges. .-. Pat Riley
-- Patrick James "Pat" Riley (1945) is an American professional basketball executive, and a former coach and player in the NBA. Currently, he is team president of the Miami Heat. Widely regarded as one of the greatest NBA coaches of all time, In 1996 he was named one of the 10 Greatest Coaches in the NBA history. As a player, he played for the Los Angeles Lakers' championship team in 1972.
