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Wednesday, December 28, 2011


Today's candle engulfed the previous two days. Tuesday's doji was the set up, and today's Long Black Candle confirms the short. 
My target of 1268 was missed by only a few handles.  1240 area remains the near term support and may still be the launch pad for 1290+, but the market is close to collapse.

Picking the tops and bottoms is not important. At this point it's being on the side of  the trend.

By the way I found this article very interesting
 Keeping it Simple - Day Trade Rules, a Pathway to Financial Security

This area of support near 1249 is quite important for the Bulls to hold. 

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