ESM12:
- Short Term Trends are bullish.
- Confirmation of a bottom on 03/08/12 with a range violation @ 1359.75 and a confirmation of a bottom with a close @ 1360.50. Upside Target = 1420.25-1450.50.
- Possible confirmation of a top with a range violation @ 1391.50. Possible confirmation of a top with a close @ 1391.50 or lower.
- The June S&P’s closed lower for the second consecutive day Wednesday with bullish divergent price action as the market continues to struggle above 1400.
- This market should experience a slight setback towards 1378.00 – 1370.75 before it can garner more support for a serious push higher to 1450.50.
- Projected Daily Range: 13.00
- Projected Weekly Range: 31.50
- Projected Monthly Range: 73.50