Sunday, May 20, 2012

5/20/12 - Weekend Charts

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Looks like a key week here coming up if the 80 week SMA has something to say about support.


Again, the target was met for the H/S. Should the market find a reason to bounce, we'll keep an eye on the neckline above near 137x in addition to the 20 day SMA near 1364.


As this chart implies, should a bounce come, it probably should be sold if this pattern repeats. This plays well with the H/S.
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