July 17, 2010

  • The rally that happened after the death cross ends at the 200 DMA
  • The index closes more than 2% below its 50 and 200 DMA's
  • The next support will be 10000 below that the index will test at least 9900 in the short term
  • Some drama has to play out if the index has to go above 50 and 200 DMA's in a hurry.
  • THE ABOVE CHANNEL BREAK POSSIBILITY WAS SHOWN IN YESTERDAY'S END OF DAY ANALYSIS

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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore