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Tuesday, September 7, 2010


Market Recap:
I'll make this short. I have been busy with work today, and have not spent a lot of time pouring over the indicators, MAs, etcetera. As I mentioned this morning Twitter requires a lot less effort and I hope you will join me there during the day as I expect to be using it a lot more for updates.

Even though the 2007 fork held Price today I’ll admit I’m just a little surprised by the depth of the reversal today. I had expected the pullback to be contained by the Green Upward fork, because it’s unusual for a fork to not have symmetry. Today Price fell right through the lower tine with hardly a hiccup, but I currently don’t see another way to place that fork.

It appears right now that the Bears will be able to test the 1040 area once again. Currently tonight the e-mini is at a level previously marked as support. There is a possibility of Price switching to the top channel.

// end of market recap for 2010.09.07 //

It takes five times longer to make a post on BlogSpot as it does on Twitter, so please join me on Twitter for updates.

Looks like the Bears will try to hold the 2007 fork.

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