To be honest Kluck, I really don't know.
Until any of those ema's or bollie lines start turning down on the below chart then I'm still looking forward. The SP still hasn't closed below the 8ema for 2 weeks.
However, I agree that a test of previous strong levels would be a good thing and we should gear up for it. The SP has always had a bit of a love affair with the 50ema so a visit there may be on which will also be at the .245 level approx. Personally I'd love it to find support at the bollie median which would set us up in a beautiful channel.
But until it closes below the 8ema then I'd be focusing upwards. If we don't we're not using our TA.
The only other thing I'd add is if it is going to test lower levels then lets get on with it and let it happen sooner rather than later.
Cheers
To be honest Kluck, I really don't know. Until any of those...
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