Posted by: fortunefaded January 28, 2010
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Emini,
I think we will definitely retest 1080. Look at the volume in the sell side. Given tomorrow is Friday, we might see light volume with upside bias. If we close below 1080 with confirmation, we are headed much lower. Come Tuesday or Wednesday, we will truly know whether this was a correction or something much more. We might be seeing a trend reversal taking place. The high of 1150 should hold till March in my opinion.
FF
I think we will definitely retest 1080. Look at the volume in the sell side. Given tomorrow is Friday, we might see light volume with upside bias. If we close below 1080 with confirmation, we are headed much lower. Come Tuesday or Wednesday, we will truly know whether this was a correction or something much more. We might be seeing a trend reversal taking place. The high of 1150 should hold till March in my opinion.
FF