Andy’s Technical Commentary__________________________________________________________________________________________________
S&P 500 ~ Daily with Weekly Support
Nothing really changed with the S&P500 lastweek. Minor support held with resistance and supportlevels unchanged from last week. The wave count up from
1202 is still a little mysterious but a “symmetrical” pattern
would be my guess. In a symmetrical the waves flowing inthe same direction all have a similar duration and size.
That concept „fits the bill‟ here. If that‟s what is going on,
then we should expect one more new high on this move.In the meantime, stay vigilant with the support levels--breaks of 1378 and 1340 would start to create a true
„breakdown‟ in this market.
COPIED from 3/25/12