S&P Price and Time Confluence Update
January 21, 2010 8:54 PM

Jan. 21, 2010

$SPX.X fell 21.5 points today on Obama’s plan to restrict banks and financial institutions trading activities. SPX also may be showing signs of reversal as it trades near the 100%AB level (1158.75) and key turning date Jan. 19th. Jan. 19th marks the 200% of the ABC Major Cycle from July 8, 2009. If SPX continues its correction, the targets may be 62% (1048) and 1000 levels. SuperBars also signaling first Orange (pre-bearish) bar to start of Bear trend.
SPX_PriceTimeConfluence2_Jan2110

ABC Bullish
Fib. Bands

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