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发表于 2010-3-12 02:15 PM
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CS view: (technical)
The S&P is challenging January highs. We look for a move through the continuation high
at 1148 (and cash above 1151) to signal the next leg higher, for 1157/60 initially. Through
here should allow strength to extend into 1174/83 and, eventually, towards our bigger
picture objective at 1221/35 – the latter marking the 61.8% retracement of the 2007/2009
bear market. Support from price/rising 13-day average levels at 1134/29 is now expected
to try to hold. Should 1129 give way, nearby price and trend support at 1123/22 would be
expected to spark a renewed upswing. Below here though suggests a more negative tone,
and opens the door to price lows/63-day average levels at 1111/10, potentially 1104/02.
The VIX is seen holding above its January low at 16.86 for now – above 19.94 signals a
bullish reversal on weekly charts, below 16.86 can target crucial 2008 lows at 15.82. 1
Short, stop/reverse above 1150. Reverse back to a long at 1135/30, stop below 1122.
Above 1150 should see the next leg higher under way, offering potential to 1221/35.
Reverse to a short at 1210/20, stop reverse above 1235. |
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