sp'daily6
sp'weekly3
Summary
*ADP jobs: 130k, slightly weaker than expected, but hey, that means QE continues, right? We're back to the bad news is good news situation.
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Rather than focus on the hourly to start the day..consider the upper bollinger on the daily/weekly charts...
Daily offering 1788
Weekly offering 1773.
However, the daily will likely jump to 1790/95 at the open for statistical reasons. Similarly, the weekly might jump to 1775.
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There is real risk of a spike high today in the 1785/95 zone, before a VERY SEVERE reversal to the downside..with a close in the 1750s.
Although I do not expect sub' 1700s for the rest of year, regardless of how strong todays reversal might be..and thats assuming we even get one.
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Notable movers: GRMN, +5.7% @ $50.80 (on earnings..I guess). That is a $100 stock..along with STX.
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VIdeo update from Mr Permabull
Have a good day everyone...things should get interesting around 2pm