Wednesday, July 14, 2010

CRITICAL JUNCTURE

The markets are at a critical juncture. Some observations:

  • Trendline from 1219.80 - 1131.23 is at approximately 1096
  • Archimedes Point: Fulcrum point of May-July downtrend = 1107
  • 200 day simple moving average = 1112.11 and FLAT-LINING
  • 55 day simple moving average = 1102.79
  • Continued pattern of lower lows and lower highs.
  • Volume on this rally SUCKS !!!!
Today's (Wednesday) S&R
1118.27

1110.63

1102.98

1091.82

1084.17

1073.01

1065.36



This is an EXCELLENT area for speculators with high risk tolerance to get short with TIGHT stops.

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