Friday, November 11, 2011
Trader Update -data point 11 November 2011-
...the SPX 500 turned sharply and opened the week starting 10 November 2011 on a positive note *1229 - as well as setting a higher Low *1228 - as well as closing above the 4 November 2011 Low *1239 - beat that-
...as a result, the positive bias in the market is bruised but not dead - the funeral directors need to hang in there and wait until the market has had the guts full of volatility and follows through sharply lower:
-taking down the 10 November 2011 Low *1228
-taking down the 1 November 2011 Low *1215
-taking down the *1200 Psych barrier
on the way to challenge the 50-dsma current *1192
...a Close below *1192 confirms the 9 November 2011 *1275 as Top
Kind Regards
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