sp'daily4b
Summary
*note the upper bollinger, it will be a 'soft wall' at the 1690 border.
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Well, both gaps are filled, and now it is simply a case of..does it keep on rising..or are we going to get stuck in the 1680s..and then start sliding?
Right now, the latter sure doesn't look likely, although the hourly charts are clearly over-stretched.
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*Ohh, and the Dow industrial index..is getting cleaned up again. See Bloomberg.
Hell, why not just have 30 financial stocks in the Dow?
11.31am..looks like the market has maxed out around sp'1683.
For those bears on the sidelines...a re-short, with a simple short-stop in the 1690s..would be a valid trade today, although I still have low hope of a major reversal into todays close.
11.48am.. initial reversal underway. Hmm.