Monday, December 5, 2011

200 Day MA Reached

So the market finally did make it to the 200 day MA as I had been predicting last Wednesday and I am again assuming the waves are now complete or near completion and we will see the TA tested along with a proper Fib retracement. Obviously the market could put in one or two more bullish legs but odds favor a break imo. I took more profit today at 1265 and should the market put in another bullish leg I will sell all my longs, two more bullish legs and I am going short as it will be a no brainer. We just need an excuse to start selling and it will happen tomorrow or the next few days.

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