I like the fact that the channel managed to contain the market today and once kissed rolled off it fairly hard and fast. I'm expecting 2 support levels to be broken in the near term. Today's price action amounted to raising the sledge hammer and reloading the RSI gun with a target of 885 first and then 875.. once 875 breaks there isn't much to slow things down until we get to 850ish..
Wednesday, June 24, 2009
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