Emini S&P livening up at last as we almost retested the June low. A correction is long overdue and after Friday's price action, risks have increased to the downside in the very short term. Holding below 2429/31 re-targets minor support at 2422/21 then the May high at 2418/16.
I have lined up all the Fibonacci levels from 2009 and there is an alignment suggesting we have seen a significant top for Emini S&P...but we will need to see what patterns develop in the days/weeks ahead to know if a bear market is likely. Next downside target and Fibonacci support at 2408/06. A break below 2400 targets 2395 and perhaps as far as a buying opportunity at 2385/83.
Above 2433 targets 2439/40 before the new all time high at 2444/2445.75. If we do break higher look for very strong resistance at 2457/59.