Thursday, September 24, 2009

Despite Down Days, Market Appears Strong!

If you are preparing yourself for a big market drop, don't hold your breath. Unless something really drastic occurs on Friday and prices fall hard, the S&P weekly price appears to merely be falling to the four-week moving average around 1044.

What's even more interesting is the three-week setup. Always a formation I look at, this one seems to be a setup for a big pop next week. A move to 1100 appears to be in the cards.

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