Monday, April 23, 2012

S&P bear flag pattern

As long as the S&P is below the 20 day(1392), I will remain bearish. Looks like the S&P could test 1350(open gap) and possibly the 1339 Camarilla Yearly H3 pivot point and March lows. Remember, the Camarilla Yearly H4 pivot point was the high this year. A H4 pivot to H3 pivot move makes sense to me. I still believe the highs for 2012 are in and we will see the low for the year in mid December.