Dec N Gas
Re natural gas, its's a matter of keeping the faith.. Prices appear to be having a problem holding, on a closing basis, above the area I designated as resistance 7.85 to 7.88. It is trying the nerves of the shorts. It is now a matter of breaking below the critical Gann line at 7.70 — without the emotions that accompany another "cold scare."
Dec S&P
A word of caution that prices are in an area where a wave 4 correction becomes very likely. A break decisively below 1370, the blue uptrend line, would be a warning that waver 4 is underway. Should that correction be launced from the current high, we should see prices ease down to the area of 1347 to 1330. Such a setback can prove to be a buying opportunity for wave 5.
