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Wednesday, August 25, 2010 6:27:55 AM
Wednesday - Hold short, oversold and at major support
Possible bounce to the 1065 SPX mark today, on an over sold bounce near term. This is below the 320 MA on the daily SPX so any play on the long side will probably be painful. The trend is your friend, so until this gets above the 320 MA, the trend is down. 1007 SPX is the ABC down target here. Given that we are about 40 points away.... Trade with Gleno chart below, he stole most of those indicators from me..LOL
Possible bounce to the 1065 SPX mark today, on an over sold bounce near term. This is below the 320 MA on the daily SPX so any play on the long side will probably be painful. The trend is your friend, so until this gets above the 320 MA, the trend is down. 1007 SPX is the ABC down target here. Given that we are about 40 points away.... Trade with Gleno chart below, he stole most of those indicators from me..LOL
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