Thursday, July 15, 2010

Market rolling over

The RUT turned down just below its 50 ema, SnP went to target area of 1100, top end, and stopped.  Patterns on 60 minute bars is showing a setup for a big down move.  generally its been 9 days up move, then 9 down move, meaning there could be one more bounce up then a plunge.. or maybe the 9 day thing just doesnt matter anymore.  I'm actually looking for a bounce here then a plunge.

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