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Tuesday, January 11, 2011

Tuesday Updates!!!

8:15, Here is an update on one of my favorite stock picks that I have had on the Trend Finder II, Weyerhaeuser (WY), now is up 20% since the beginning of December, and its a quality stock paying close to 1% dividend and has a PE of 5.72. Notice how the system was able to catch the majority of the large moves, without a lot off whip-sawing, played from the beginning of 2010 you could have made a killing playing both directions!!! 7:56, The Dollar has been stuck in a trading range between $79.02 and $81.63 for the last six weeks consolidating. The price action, when it does finally break out of these triangles normally resumes the original trend, in this case, that would be up. There are a three ways to label this triangle, it could be and "B" or "X" wave, or a 4th wave.
Click here for a live, and updated chart!!!
7:42, The SPX did break above the Bollinger bands this morning, odds favor a quick reversal to the lower band when this happens
Click here for a live, and updated chart!!!
The SPX opened gap up this morning and is close to making a new high, I did remove the question mark from the blue 4th wave because the sell-off never did materialize into an impulsive sell-off and was corrective from the beginning, this does keep the up trend intact with new highs to be expected for the 5th wave. Breadth is really lack-luster this morning , currently at 1.52:1, advancers, which is very weak and most likely will result in a narrow trading range today.
Support now rises to 1262.18, the previous lower low.
-Bangladesh Stocks Plunge: A Reflection Of Falling Social Mood

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