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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: Boolish who wrote (201970)8/3/2011 11:30:14 AM
From: stuffbug  Respond to of 313057
 
Boo,

The US intermediate trend is DOWN. That means rallies are to be sold (until the trend changes).

1. The S&P500 topped out at 1370 on May 1st.
2. June low was 1258.
3. Subsequent high in July was 1356.
4. Yesterday's close of 1254 took out the June low.

So, we now have a high, low, lower high and lower low - classical definition of a down trend. In my model, we would need a close above 1320 to turn the trend up.


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