Thursday, June 21, 2012

50 day MA holding

I had an emergency and had to go drive out of town and back but I still want to give an update for 6/20. Basically the market did what I was expecting, which is the test of the 50 day MA and so far this level has been holding well. So if tomorrow this level doesn't break then I expect the market to make a run towards the 1365 to break resistance, which would go well in line with a W5 to finish up the impulse wave from 1266. And like I said yesterday, if the 1365 level breaks we're on to 1385-1390.

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