Thursday, May 26, 2011

TA Tested and now..

The market tested the TA as I was expecting yesterday and now we shall see if this is a C wave, which implies a sell off in the next couple of sessions or a W3 that will break through the TA and turn the trend back to bullish. In looking at commodities and emerging markets, odds favor the start of another rally and if that happens the S&P will rally along with it. I am ready to add to longs should a break out occur.

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