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MARKET WRAP UP 11/01/10
The S&P 500 barely edged up 0.09% to 1184 today, as the market appears to be in a holding pattern until Wednesday. With the mid-term elections tomorrow, we can probably expect to see more lethargic price action at least until “hump day.” Despite a morning gap higher on the S&P, the 200 period weekly moving average, currently at 1193, once again provided a general area of resistance to push price back down into the recent tight range. At the same time, however, the bears were once again unable to make much of a dent in the broader technical picture.
As the recent string of doij, indecisive days begin to pile up in abundance, we know one thing is becoming an increasingly probable outcome: The next move, whichever way it is, will be powerful and swift.
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Thanks Chess.
Added to HMIN, it looks good. Finally sold WPRT for small profit, will revisit.
Sold multiple longs and reduced positions, 65% cash. Hope for you and others that the rally continues!
Man I remember that jam – “Im a freak, I like the girls with the boom,. I once got busy in a Burger King bathroom”,,,, Now WHY was that bleeped??? 🙂
Oh yeah! Stop what your doing, cus Im about to ruin!
the image and the style that you’re used to