S&P 500 Type II

For those who attended the Member Event on 10/10, you'll remember that the Type II Buy on $SPX that has been a point of interest for a few weeks now.

As it currently stands, the price action has rallied into the MOB from the previous Wave 4 high. Now, with that resistance comes the possibility of a pullback. The pullback can test a variety of areas which I've illustrated with the red arrows. In the event the trend continues higher, keep redrawing the retracement to get a new set of the levels to focus on.

For those who missed the Members Event, it can be viewed here.....October 2011 Market Review

 

 

Trade Smart.....

~Duane Gott