Here is a chart from several weeks ago, explaining how the upside target of 1340 to 1360 was derived. Now the pig*, having exceeded the resistance area in what could be an epic suck in of the momos, had better hold this zone or else it is a long way down to the nearest support zone around 1260.
* I sometimes refer to the venerable US stock market this way, especially when I am short against it. This indicates emotion and probably hints at why I tend not to be a very good bear. But there are times to be bullish and times to be bearish. This 'seems' like the latter, or at least to be in full risk management mode across all sectors, at the least.
http://www.biiwii.blogspot.com
http://www.biiwii.com
* I sometimes refer to the venerable US stock market this way, especially when I am short against it. This indicates emotion and probably hints at why I tend not to be a very good bear. But there are times to be bullish and times to be bearish. This 'seems' like the latter, or at least to be in full risk management mode across all sectors, at the least.
http://www.biiwii.blogspot.com
http://www.biiwii.com
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