22 February 2011

Simsci : Bearish Confirmation

  • Trading at 358 this morning. Many bearish signals generated.
  • Monthly : Rising wedge evidently broken. Should trade into previous congestion zone between 330-350. Previous low at 314.3 is far far away, but not impossible.
  • Weekly : Double top. Clear trend change. Depending on where you pitch the top, downside objective lies between 345 and 349. Previous low at 341.9 should provide more support.
  • Sitting tight on shorts from 367.


Taichiseal said...

Taken partial profit SSGG1 @ 353.90

Taichiseal said...

Squared balance @ 353.50. Still bearish but think S&P near support. Look to re-sell Simsci later.