Tuesday, September 13, 2011

Trader Update -data point 13 September 2011-

Trader Update:

...with an intraday Low *1157, the market supported the September 12 Congestion High *1151 short term support and continued to rally into short term trendline resistance current *1175
...above current trendline resistance *1175, upside potential carries the index into overhead resistance current *1231 - watch out for violation  of the current *1160 short term support 

...failing *1175, the market turns bearish again - in that case, expect the September 6 Low *1136 to fly out the window, pushing the index for a second test of the bull level *1103 at a minimum

Kind Regards

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