It was the Chinese economic numbers that stimulated the market action over in Asia. The economic data came in line with market expectations. The Chinese GDP q/y matched the forecast of 6.1% while the fixed asset investment painted a better picture by whipping the forecast of 5.2%. It published a num
Consolidation in place.
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Pivot (invalidation): 13509.00
Our preference Short positions below 13509.00 with targets at 13320.00 & 13273.00 in extension.
Alternative scenario Above 13509.00 look for further upside with 13550
Point and Figure Overview of SPX
Long-term trend: The bull market which started in 03/09 shows no sign of having run its course. A rough count taken on the long-term Point & Figure chart gives us a potential targettoas high as 4080. P&F does not predict time, only price.(no change)