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Old 02-22-2012, 05:20 AM   Nav to Top 
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Default S&P 02.22.12

The S&P confirmed a positive closing also yesterday, however well off the high of the daily. While above 1355 we expect therefore further upside potential toward the target at 1370,80, now again the s/t target. The indicators of the daily chart are still well positive supporting higher levels. Bearish divergences confirm the positive tone. The indicators of the s/t charts are mixed at the moment supporting some consolidation. Only an hourly closing below 1356,00 will however postpone further strength favouring a deeper correction with the 200 hours line at 1351,63 the attraction. We stay on the sideline for now still keeping the short position that we want to increase above 1370!!
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