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3/7/2010 9:54:13 PM
Our Thoughts for Monday March 8, 2010
Well its time I throw up my hands and admit that I am wrong. Friday’s trend day up broke us out of a bull-flag like consolidation on the SPX daily consolidation which suggests we could see more upside to my chagrin since I have been bearish the past few weeks and obviously wrong. Hence I know believe we can at least challenge the swing highs from mid-January unless we see a large ominous reversal pattern to suggest otherwise. 1150 is now the upside target to watch for and if there is a reversal in our short future that could be where we see one in the form of a double top. Since I don’t look for consecutive trend-days I would look for a digestive day today following Friday’s action which means we should see a choppy day today. Let’s see what shakes out. Good trading and we will talk to you soon.
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