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Friday, June 18, 2010

Friday updates

The wife bitched me out last night, for walking through the house with my boots on again. So I decided to jump on the bike and go for a quick spin, to cool down....
Boy, that pissed her off even more!!!

After the close, WOW, and I thought Wednesday and Thursday where boring, so I left you with a Friday funny!!!
The SPX did make a higher high today, confirming the trend as still bullish, but after that high, the SPX went flat and spent the rest of the day stuck in a 4 point range, something that is hard to get used to after all those 15-20+ point days we have had lately. The squiggles today where again a series of a-b-c's, that most likely is building on a larger set of corrective waves from the last three days. This is turning into a corrective nightmare, hopefully, Monday will have some decent movement to it, as today, being OPEX Friday sure did not clarify a thing.

Click here for a live, and updated chart!!!
7:56, With no more bearish Fib fans in the picture, next resistance is all the way up at 1173.57.


Click here for a live, and updated chart!!!
7:40, This is my best guess on the short-term count, it is a low confidence count, as there is more then one way to interpet the squiggles. The channels, and support levels are something to watch, but as long as we continue to head higher in the upper channel, the trend remains bullish.


Click here for a live, and updated chart!!!
The SPX has dropped out of the most bullish set of fans, down to the middle set. Momentum is starting to wane when that happens.


6:46, The VIX still has three gaps on the downside to be filled, and one on the upside. If it can fill those lower gaps, without the indexes making new highs, the longer term trend will still favor the bears.

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