Wednesday, July 15, 2009

Bull Trap Scenario Part III

The bull trap scenario is going ahead nicely, market became neutral in to partial overbought,but we could go higher little more before we head lower.
If I got the analogy right S&P500 should run out steam at ~920 to ~930 levels that complete the right shoulder, Then it should head lower. Note if S&P violates the 940 the head and shoulder scenario won't come to play and we should get a rally up to 1000. Lets see what is going to play out.