« 10yr Note Futures--Monday Morning, May 5, 2008 | Main | Crude Oil--Monday Afternoon, May 5, 2008 »

S&P--Monday Afternoon, May 5, 2008

If, as Richard Russell states in his article in this weekend's Barron's, Dow Theory is indicating this stock market rally has a lot further to go, we might picture an alpha-beta base set up like this:
080505-1254-spDaily.gif

Resistance at the 1.618 delta around 1425. We entered that area of resistance on Friday.

Posted by Pure Guesswork on May 5, 2008 1:05 PM |

TrackBack

TrackBack URL for this entry:
http://www.pureguesswork.com/mt/mt-tb.cgi/237

Post a comment

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)