Thursday, July 29, 2010

A bear window has opened...

The bullishness may have come to an end with today's move. We had an impulsive wave to the downside breaking the hourly 34 SMA and key support. The market rallied and back tested the 34 SMA and is setup for an acceleration move to the downside. If the bulls are still in charge, then tomorrow will be an up close.
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