Charts I’m Watching: Nov 2, 2012

SPX continues on the path we laid out for our new analog [see:  The Game is Afoot.]  We reached the lower end of our target range yesterday (Point A), breaking above the new channel mid-line.

We’re getting a back test of the broken channel mid-line here.   SPX remains within the proposed rising channel — for now.

We remain long since 1405 on Oct 25.  But, this is a good time to review the technical picture.  I’ve also adjusted the analog somewhat, including the targets for this particular leg.

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