Tuesday, March 15, 2011

Financials $Rifin - Medium Term

Despite the oversold technicals, markets broke down overnight with the Nikkei crashing.

This is the same chart that I have shown previously.  Financials bounced at the mid-line of the pitchforks.  I think $Rifin could come down and test the red line around 834 next.

$SPX may come down to test the 1227 area which was the April and Nov 2010 highs. 

2-Hour Chart


  1. I think we test SPX 1255 today/tomorrow, but then bounce to 1290's. I'll have a new SPX chart today.