Wednesday, April 6, 2011

S&P 1350?

The market continued its sideways corrective move today and I think odds favor a bullish day tomorrow that will challenge the high for the year. My best guess is that this wave will end in the 1355 area before seeing a significant correction. So I am staying in cash and waiting for a favorable risk/reward opportunity. I think once this wave corrects, we will a huge rally. Especially US Dollar denominated assets.

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