Thursday 21 June 2012

A little simplicity...to end Fed day

I was wondering how to close today, many traders are probably overloaded from today's choppy price action, and endless chatter across both the web and TV about 'what is next for the markets?'.

I thought this would be a good chart to close the day....


Sp, daily, fib levels


Summary

Yesterdays near-hit of the 61.8% retracement Fib level - based on the wave'1 count, of sp'1363 would make for an absolutely perfect peak for wave'2.

Will it really pan out as simple as this? Wave'2...1363...and now wave'3..down to 1150/00 across July..and into August?

It is certainly something to dream on.

Goodnight from London