TheLFB-Forex.com A Forex Trader PortalTheLFB-Forex.com A Forex Trader Portal
The Trader Advantage: S&P Futures Push The Boat Out
Excerpts taken from The Trader Advantage Program
Overall View: Looking for a near-term top
4 Hour Chart Flows: Long Price Points: 1136 Looking for: Wave (5) top
Momentum: The S&P futures market confirmed a long momentum read on Nov 11th and built a solid near-term support base around 1075 and now 1105. The moves to test and hold support are solid.
Elliott Wave: S&P futures bounced higher after the 1136 lows were reached this week. The wave count has now been re-worked after prices reached new highs, above the 1156 region. We are looking for a red wave 5) that is in process and may trade higher, towards the 1165 region, which is around the upper line of a trading channel, from where down-side price action is expected. A break through 1136, and a close below this level, is required for any larger down-trend to be able to easily complete.
TheLFB Charting: S&P 4 Hour View
The 1147 resistance from February 2010 was taken out, which required a re-worked wave count. The charts show an impulsive wave count from 1040 lows, with the recent decline shown as a correction labeled as a (W)-(X)-(Y). An impulsive decline is a five wave move that suggests a turning point will be seen once these five waves are finished.
On the chart below we are looking for an impulsive black wave C that may find the top very soon, and a down-trend should follow.
TheLFB Charting: S&P Daily Chart View
Join TheLFB Trade Team For Live Online Forex Training With The Pros!
Timing The Forex Trade- A Former Central Banker Reveals All
Course: Detail and Content
Sign-Up for Sun Mar 21st 2010
Earn Full Credit On Your Tuition Fee!Course attendees who sign-up for the Trader Advantage Program (TAP) receive the 3rd month of TheLFB Trader Advantage Program free* Get an advantage and subscribe to TheLFB Trader Advantage Program. Enhance your MT4 platform with LFB data and analysis. Put the training course to work long after the course concludes! Save $197! Ask Us How
Trade Signals and Plans Straight Off The Meta 4 Charts- Get TheLFB Trader Advantage
Provided by TheLFB Trade Team, © 2007-2010 LFB Services, LLC. All rights reserved.