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Wednesday, May 9, 2012


My targets are 1330 and this area around 1385. 

Remember if the blue down fork is broken then it's bullish.  This White fork (formerly pinkish) is my favored down fork.  1425 appears to be off the radar.

Today's volume spiked hard during the sell off.  This exhausted the supply of sellers.  I think we will correct upward, but sell the peaks -  this market appears to have turned.   1330 area will be the next support level to wade through and in the meanwhile I think we will find a range within the Volume Profile

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