Wednesday, September 5, 2012

S&P 500 - Sept 5, 2012

Much ado about nothing on Tuesday


The curves I posted seem to be holding and playing nicely






Closer, we can clearly see a contraction on this futures chart




Index is in a theoretical timing band for a trading (short-term) cycle low. The resolution of the recent contraction may tell me if the low is put in already or needs another push down to be set


1395 and 1384 are nearby support


1415 is important resistance to take and hold

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