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Wednesday, September 15, 2010

Wednesday updates

One of the big battles of the week seems to be control over the 200 day Moving Average, currently at 1115.90.
7:45, Small CAPS continue to under-perform on this rally, where they should be out-performing for a legitimate long-term rally, the bulls are favoring the safer large CAPS.

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7:04, According to the longer-term Fib fans, support is now in the 1100 area, while resistance is still up at the 1131 level.

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6:51, The SPX has finally broke out of the short-term bullish Fib fans!!!

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6:40, The SPX opened gap down, and made a very minor lower low, the short-term trend is still up, while the longer-term trend remains down until 1131 is taken out. The RSI did break below its trendline of support. breaking below 1105.15 would be making a lower low putting the short-term trend in jeopardy and giving some hope to the bears.

1 comment:

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