Sunday, February 5, 2012
S&P futures: scenario playing out so far.
One of the scenarios posted earlier is playing out so far (emphasize so far). Would be nice to see some high base consolidation in the 1330-1345 range. Another scenario to consider would be a one or two day falling wedge into the 1313- 1315 area, or a organized bull flag down to those levels over a few days time. Barring anything market moving negative regarding the EU crisis - which could trump the short term technicals, i'm increasingly bullish with each level of support from the 1313 area on up.