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Friday, May 11, 2012


A line of resistance.
Nailed it. 
Tell me what the market will do and why you think what you think.   Are you looking at Fibonacci ratios, Volume Profiles, Andrews Pitchforks, Channels Elliott Waves or do simply listen to a market guru.
Oh yeah I guess I'm just one more self professed market analysis.  LOL  But we fumbled around all week inside the Volume Profile just as I said we would.

Anyhow, it's still a guessing game and 1385 area is still a Price magnet, but so is 1330.  We've built a solid launch base for the next move, and I'm leaning toward the down side until my down fork is broken.

Remember I've been saying 1350 was the support area the Bears would have to break.  I was right about that and I'm going to be right about 1330 and then 1290.  1290 is the support where blood will be lost.  I have little doubt that target will be met, I just can't say how soon, or where the Bulls will manage to take us in between.   If the Bulls loose 1290 area look out!   The EW guys will be wearing spurs, while riding Bears, and shooting Bulls for fun.

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