Monday, June 18, 2012

Trend Average Test

The market got stopped by the 50 day MA today and that to me shows some doubts among traders, at the same time the VIX has plummeted so odds still favors the bullish side. I think if the coming correction finds support at the Trend Average (currently 1324), then the market will find enough fuel to propel past the 50 day MA and in turn increase the chances of turning the intermediate trend to the bullish side. But first, let's see how the market holds after the correction.

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