Tuesday, October 27, 2009

Bullying the Market

Did the Bully just nail the top of the market? The S&P closed at 1097.91 on the day he recommended to sell equities. (You could have easily sold at this level the next day as well.)

Take a look at the daily S&P candle chart. Looks like we are going to test the 50 day MA for the second time in a month. Will we hold this time? The Bully's best guess is we bounce off the 50 day MA initially but break through to the downside shortly thereafter.

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