Thursday, May 3, 2012

Market about to rally?

We saw more downside today as I had been predicting and the market closed 1 point belore the Trend Avg. However, the ideal would be for this wave to bottom in the 1371-1380 range and see a bullish reversal. If this scenario materializes, we should see a strong bullish wave to take out the 1422 high. For now I am holding on going long until tomorrow, I will either go long if the target area is reached or if we start trading above the TA again.

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