Outlook for 4/8/11 : EdgePlayerTrading

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Outlook for 4/8/11

by EdgePlayer on 04/07/11

Regardless of whether you think today's sell-off was  the result of over-anxious algos responding to Japan's 7.4 aftershock or something more fundamental like oil at 110, watch for a breakout of the triangle formed by today's price action for clues as to the markets next direction.  If it breaks up and stays in the up channel of the last few days, the year-to-date high of 1338 is the likely target.  If it breaks down, the first target is likely the the gap at 1319.50.

WTD/MTD

30 Min

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