Is it fair to say that we are headed for a test of around 4440? 61.8% fibonnaci line for the move up from previous low of 4422 to a high of 5020 has been broken. I don't see any strong support line down to 4440. maybe a slight support at 4500, but i wouldn't count on it.
Unfortunately i have a long position, but it's hedged with another short position. Hopefully I can pick the bottom and close the short position to take the profit and recoup the loss on the long position on the way back up
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- thursday may 6 2010
Is it fair to say that we are headed for a test of around 4440?...
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