Once again, I'll mention that we are in a sideways market right now. Slightly toppish but the bargain hunters are still there. Uncle Ben not ruling out QE3 has also given the markets a boost.
I haven't changed any drawings on my fibo. Thus we still see 3031 as the overhead resistance. We haven't managed to close above it yet.
We bounced off 3002 today. As Dow is currently red, I will mention the downside is probably around the 2984-2988 region (max) for tomorrow. That's the 20ma line.
When it dips to between 2995 and 2984, it's a chance to buy as it is in the "value" zone.
A break of 26th's low of 2974. will suggest more downside.
Do note that we are in the month-end, quarter-end period and there might be window dressing on index stocks. This also means i'll be busy with month end closing :(
Trade safe!
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