Tuesday, May 25, 2010

Heading up for a while?

I have seen a number of falling wedges on individual stocks.   Those are usually quite bullish, I saw those on JCI and Honeywell in Feb 2009....should have seen the writing on the walls!

My guess is that we head up to around 1120, 1125 on the SPX.   There is long term Fibs and near term Fibs right there.

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Insightful and Useful Comment!