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Monday, July 30, 2012
SPX weekly chart
Are the bears going to snatch defeat from the jaws of victory once again? Well, NFTRH has been following a series of higher highs and higher lows by daily charts to keep a tight focus on the rally (dumb money sold in May, right?) and I have by no means been over confident in the market's prospects. But the weekly chart has gone MACD trigger up while the trend remains down - for now.
The market is within a strong resistance zone but the bears may be running out of time to break this thing.