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Thursday, July 19, 2012


Close enough to my target to start looking for a reversal.  My AD vs Price indicator shows that the market is due for a reversal.  The Volume Profile agrees.  The Candle Sticks show indecision.  Until confirmed it's a 50% call,  confirmed only if we close below 1376.5.

The trend line was broken as well as the fork.   My personal confirmation comes at 1339.  This is where I see the determining support.  After that the support sits at the bottom tine of the thick blue fork near 1320.   After that you had better be a Bear.

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