In my view, the US equity market is rallying and it is a rally that is within a larger downtrend. It is tough to be short anything as of this moment. It seems to me that the market could rally more. I'd use a target of 1044 on the S&P futures.
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If the market rallies up to that area, it will set us up for a sell on the weekly chart.
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I am still bullish on Gold (GLD). It sold off today, but held a key Gann level on the weekly chart.
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It's a brand new year. Make it great!
Joel Stahl
On the S&P Daily chart, their is a black vertical bar on the MOB above current levels, suggesting that Tuesday may very well have been the end of the Wave 4 rally.
Posted by: Allan Harris | January 07, 2009 at 08:08 AM
This is a wonderful opinion. The things mentioned are unanimous and needs to be appreciated by everyone.
Hazel Knight
One of the great things about in-game money and virtual economies is that they never went through this whole economic meltdown. So take that to all of those people who think the real world is better then computer games!
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Posted by: MosesLora32 | September 19, 2011 at 11:57 PM