Previsão para hoje SP 500
Enviado: 17/1/2003 11:33For Friday, additional downside is possible but watch for support near 908-910. A move below this is very bearish and invalidates any bullish outlook for the near term. A move higher from the open could lead to resistance near 920 and a move above this is bullish to next resistance near 935 and then 950. Data suggests a possible gap down could occur which is likely to be bought for a rally out of the first hour but watch the key support lines to be sure.
A major top appears to be developing and it is possible that the corrective pattern in process since last July is coming to an end with a terminal pattern developing in the short term charts and the failure to reach the 954 high creating another lower high. Any move below the 869 point confirms the action and suggests a new major bear trend may be at hand.
Potential range for 2003: High 940, low 640. Targets will be revised as conditions evolve
A major top appears to be developing and it is possible that the corrective pattern in process since last July is coming to an end with a terminal pattern developing in the short term charts and the failure to reach the 954 high creating another lower high. Any move below the 869 point confirms the action and suggests a new major bear trend may be at hand.
Potential range for 2003: High 940, low 640. Targets will be revised as conditions evolve