20% Hedged: *1271
...a bullish bias followed by some bullish price action
...the SPX 500 traded past the 1 August 2011 Low *1273 - 4 October High *1267 to an intraday High *1278 off the November 1 Low *1215 - price action above the 3 November High *1263 remains bullish ahead of the 27 October trading High *1293_the *1300 Psych barrier
...the SPX 500 pushed aggressivley through the 3 November 2011 High *1263 support, showing little respect for the 3 October 2011 Low *1239 suppport to an intraday Low *1229 - settng the Peak for the 1 November Low *1215 rally at the 8 November 2011 *1278
...the violation the 3 October 2011 Low *1239 suppport suggests high risk to follow through lower targeting the 28 September 2011 High *1187 - potential to reach lower towards the October 9 2011 *1162 support Low before setting a possible floor if support is successfully defended
Kind Regards
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