Next Likely Target on S&P…2011

Although we are reaching an area of overbought readings on some indicators, it is likely this move will only take a pause. With the 127.2% fib extension in its cross hair, the e-mini S&P may find some resistance or consolidate around this 78.6% fib level in order to reset for another move higher. Pullbacks will be watched as another buying opportunity. Keeping above this level will be key for any continuation to be maintained.

next target

 

 

 

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