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Sunday, December 04, 2011 8:49:01 AM
Given last weeks big bull candle I expect to see some follow through after a small pull back. The weekly SPX is curently in a green Ichimoku cloud, a neutral position. The upside should see resistance at the cloud top, upper BB at low 1300s and RSI 70 area. The past month's weekly price action is very similar to that of the summer of 2010. Perhaps we are on the verge of another bull market, although the cloud is not offering support the way it was in 2010.
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