Saturday, March 16, 2013

SPX rally to 1580s

In a previous post [here], I presented the case for SPX to rally to 1582-86. Looks like it is well on track to reach its target. Some had a figure of 1560 but I think we blow past that into 1580s. Need to set a new high.

Since SPX avoided the Wolfe wave at 127.2 extension. Getting into 1580s will bring it close to another point from where the Wolfe wave can start - 161.8 extension at 1602.

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