Friday, June 22, 2012

Trend Average Resistance

The market bounced as expected today but it stopped right at the Trend Average closing just a point below it. Looking at some technical analysis tools the market looks like the bounce wave is not over so it remains to be seen just how much higher it can do. The trend has not changed and the intermediate bullish pattern remains the same so it is up to the bears to make their case now.

Have a great weekend!

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