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Thursday, December 8, 2011


What an interesting week it has been since my last post.
Talk about a range bound market!  As I mentioned the fork was a little unusual.  Generally we don't get switching between the two channels, and while that fork worked at the time I believe this Green fork is the true path.

It's still a bit uncertain, but 1221.50 looks like a possible target but symmetry would require a bounce toward 1300.  This is the area I have long said was a Fibonacci target.  I'm not willing to put a exact number on that, but 1280 - 1310 would be a likely range right now.

Of course if 1200 were to fall to the Bears I'd be all in on a much more Bearish scenario.

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