Tuesday, April 21, 2009

Hopeful that the retrace has faded

I'm hopeful that the retrace back to 848 has stalled. The 848 represents both the 50% fib area as well as an area where the shorter term RSI's kiss the 70 level. I'm expecting we roll back over now and this time test that rounded 800 level. Hoping that it holds and we drift our way back up to the highs and beyond, all within a larger Bear market.

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