Wednesday, July 8, 2009

SPX Daily Chart 07/08/09

Head and Shoulders top not a done deal yet. Notice we are trading in a parallel channel. This could be nothing more than an A-B-C correction, or a bullish flag pattern
that traces out as A-B-C-D-E. Play it as it unfolds.
"Reaction" to earnings announcements should give
us clues as to market direction.
 

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