Rosey's Outlook


by J.D. Rosendahl

Monday, November 14, 2011

Stock Charts: Still Looks Wedge Like

$SPX 15 Minute:  Friday could have been wave d and today could have been wave e, but I still think it expands, which is what I'm presenting below.  In either case we should know soon.



$SPX 60 Minute:  As long as we hold the uptrend line, there's nothing bearish in structure.  Today's decline looks insufficient to be the end of the wedge. 




$SPX Daily:  Price is consolidating on significant price points, there's no coincidence in that.  The resolution to this should be to the upside.



My Watch List:  Nothing new to add from yesterday's list.

From My Trading Desk:  No trades today.

Happy Trading.

J.D. Rosendahl, Rosey