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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Logain Ablar who wrote (45774)	7/20/2009 4:04:34 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 68394

Testing resistance on the SP500 and the DOW indices today. COMPX is already through the resistance levels. It looks like the indices might run higher if they breakout and confirm over the next few days. The confirmation is key. Keep in mind the direction of the indices till the end of the year won't be determined till the institutional traders return from vacation after Labour Day. At this point, if you are a short term trader, go with the technicals till they signal a reversal.