Thursday, December 16, 2010

Market Update - December 16th

The market bounced at the level I mentioned yesterday and so far it looks like it was a test of the trendline. And now that the MACD has turned bullish, there is a chance for a lot more upside. We do however have the bearish candlestick confirmation from yesterday but one more positive close would turn the short term trend bullish again. As long as 1234 gets respected, I am expecting more upside to come.

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