Seven (7) charts $XII, DIA, $INDU, SPY, $SPX, QQQQ, $OEX
siliconinvestor.com
Presently we are at first support level, you can see it on these charts quite clearly, i posted these here over the weekend. The Political action is worsening the climate today, and we were just into being oversold from 5 days up. Now may need to over do it as usual and then base about here or a little bit lower.
Unless Obama or Bush or Paul or Ben or someone else speaks, otherwise this level should hold.
Be aware, Brokers are automatically covering Shorts in this dip without telling the trader until after they did so, if, they do not have stock in their inventory to cover the short.
$SPX Trends and Cycles Chart
$SPX now has its Head Against A DownTrendLine.
The One it Falsely Broke-Thru last time here, and then, Quickly Retreated..
This is our Second time unsuccessful, next time try should be a charm..
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