Tuesday, December 11, 2012

V shape bottom

No double bottom or inverse head and shoulders bottom,,,,,,,, a V shape bounce trapping shorty!! We are approaching a supply area here at 13200-13250-13300 from last October. The low this month has been on the monthly pivot points on all the indexes. If the MPP is the low we probably will rally to the monthly R1 pivot point at 13385 on the Dec. YM futures and 1452 on the Dec. ES futures. We have a Major Bradley trend change date coming up next week. Will it be the beginning of a big pull back or a break out to new highs?