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Thursday, December 29, 2011


I really have nothing new to say.  Last night came very close to breaking the range.  This upward fork appears to have a little more upside, but it also feels like a very fragile market. 

Since Wednesday's close the Bulls have attempted to pull the market up but as of 00:30 PST the Bears have managed to take back most of those gains and have challenged the upward fork.

It would appear that if the 1240 area is violated 1223 would be a likely target and possibly the beginning of the collapse.  1197-1200 is the last support.

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