Monday, June 11, 2012

Correction to Trend Average

Last week I mentioned the market intended to test the Trend Average early in the week and I think we are in the process of doing just that after seeing a 5th wave materialize mostly in pre-market. And like I said last week, I consider the 1298 level an important area as it must hold for the market to really start rallying. Let's see if the market will manage to stay above the TA in the coming days. As it is, the pattern so far looks bullish and the potential H&S targets 1403.

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