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November 29th, 2011: Update 1 – Morning

Posted by pugsma on November 29, 2011

11:00 am EST:  As expected the SP-500 price moved up to the 50-day SMA resistance this morning a 1204.  It’s now decision time for the SP-500.   Continue the break-out above the 1197 IHS neck-line towards the 1238 target (primary count) or retreat and re-test the 1158 low (alternate count).

SP-500 15-min chart (10:50 am):

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