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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: fred woodall who wrote (6067)	6/22/2010 10:27:14 PM
From: GROUND ZERO™	2 Recommendations Read Replies (1) \| Respond to of 220633

There are several things that make it reasonable to go long on the close today... 1) The buy signal is still intact, 2) The market rallied right up to the initial vertical price of 1131.40 and then sold off, a 40 point pull back, 3) Two full down days after OPEX is enough (reference to RealMan's post OPEX counter trend days), we could see some more weakness tomorrow, but by the end of this week the markets should be much higher that where they closed today, and 4) The market is no longer severely overbought... 5) FOMC meeting tomorrow is typically bullish... There are just a few of the reasons... GZ