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S&P500 Targets 1400

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Apr 05 2011

Hello traders!

The S&P 500 was higher in the past week, about we also warned  our subscribers few weeks ago when we mentioned that move from the high is still in three waves! Well, recently market moved well above 1300 region and formed an important overlap on the intra-day basis which invalidated any bearish interpretations. In fact, we can clearly see that prices found the recent lows exactly at the upper base channel line and reacted as a support, which appears very often in fourth waves!

With this being said, we believe that new highs are underway, with wave (5) targeting 1370 and 1400 regions.

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