SP/MIB: go down, nice and slow …
Source: http://www.g2trader.com/discretional-trading/1-elliott-wave-theory/83-sapmib-go-down-nice-and-slow-.htmlPosted on Tuesday, February 17th, 2009 | In Market Commentary
Sell-off today has reached one critical level, but where is the end?
Today we reached the bottom of the wedge, at 16.800, but looking at the chart it seems that this level could be break very soon. In this case, S&P/MIB could begin a new bearish movement that has targets below 16.500. My technical indicators had a bearish configuration now, and this could last for some weeks. On the contrary, only the break of 18.000 in the last days of this week could make me change my deeply bearish vision. For any further details, Elliott Wave count and setup dates, please buy my S&P/MIB Market Forecast pushing the button placed here below. As soon as I receive the payment, I will send you the report by email.
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Last 5 posts by Graziano Nanetti
- SP/MIB: the nightmare will go on - January 24th, 2009
- SP/MIB: where do we go - hypo 2 - December 20th, 2008
- SP/MIB and Bradley Siderograph: did it work this year? - December 14th, 2008
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Graziano Nanetti is an independent analyst and has years of experience in technical analysis for stocks and indexes. G Squared is born from an idea of Graziano Luciano and Graziano Nanetti, founders of G Squared.
Previously, Graziano Nanetti was the author of the financial blog RNE Trading. His blog expanded to include more detailed contents about markets and to publish the great material he received from Graziano Luciano.
Now, G Squared is aimed at pubblishing open minded financial articles about few major indexes (S&P500, S&P/MIB, Nasdaq100) belonging to financial international markets.
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