hi,
Friday SP500 futures continued their upward trend. In the coming days we should get to the levels of 1700 points where the nearest resistance (chart 1).
Trend should be so strong that contracts should not fall below 1668-1660 points.
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| chart 1. SP500f, H4, 21-07-2013 |
If such a scenario will occur, then we will have an open road to the levels of 1770-1790 points (total max 1830 points). Then should begin a deeper correction. (chart 2).
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| chart 2. SP500f, H4, 21-07-2013 |
and therefore the bull market in the United States is not over yet. And at least until September for the next Fed chief's speech. Of course, want to look at the data from the U.S. market and continuously analyze the situation.
regards
oscarjp
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