The JUN’09 MID CAP400 is stuck in a corrective trade and will remain vulnerable to a re-test of yesterday low area at 583.70-583 with all trading below the 596.80 Inflection Pivot.
This is the expected low point for the digestive range if the underlying positive momentum is going to keep pace. A held failure from 583.00 confirms further corrective action targeting 558.30 and 552.10 on any sentiment shift. Expect no follow through at this time.
A rise above the 596.80 Inflection Pivot and the aggressive buying returns targeting new moves highs up to 615.60 and 619.80 initially. 638.70 is the extneded target for any new leg higher.
This is the expected low point for the digestive range if the underlying positive momentum is going to keep pace. A held failure from 583.00 confirms further corrective action targeting 558.30 and 552.10 on any sentiment shift. Expect no follow through at this time.
A rise above the 596.80 Inflection Pivot and the aggressive buying returns targeting new moves highs up to 615.60 and 619.80 initially. 638.70 is the extneded target for any new leg higher.
JS
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