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Thursday, April 19, 2012
S&P 500's progress
60 minute chart updated showing a drop back below the 60 period EMA. A break through resistance targets above 1410, but for now at least the bulls don't look quite so brave as a couple days ago. The market is whipsawing around in preparation for a move that in my opinion will lock and load some pretty pertinent tactical objectivess.
This is a short post. Subscribers got a long one in pre-market. The market's short term direction has a big hand in the events expected to play out over the next few months.