4.15.2012

A head-and-shoulders pattern seems to be in the forming.

Maintain my call for a mid-term correction (with duration adjusted to 4-8 weeks from the old value 6-8 weeks), (The down target is adjusted to 1312 from the old value 1290).
There are two scenarios for the movement of the index next Monday with a head-and-shoulders pattern seems to be in the forming.
1) A further fall to the 1359.00 - 1362.00 supports.
2) A rebound to the 1375.50 - 1378.50 resistances before a drop to resume.



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