Thursday, September 9, 2010

9/9/10 EOD

MACD is indicating we may see some downside along with a small scale head and shoulders and a wave 4 flat targeting 1090 and possibly 1085 (see MA chart below)

Daily MAs
A cluster of MAs are turning up near 1083-1085. I would expect some support here on a pullback as indicated by the wave 4 flat above.

Here's an update to this chart I have posted in the past. Notice MACD. It is about to cross and if we rally tomorrow, I believe we should have a buy signal. Some things to think about for the bears.

This will be my last post until Sunday evening.
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