FEB 10 Charts

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Friday is the last day of the week, and I usually just do a brief report with a few bullish chart set ups.   On Thursday, we did see a variety of action however,  so Fridays report will be a bit longer than normal. Keep in mind that I usually cover things with a bit more detail in the weekend report.

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SPX - Many think that the market is breaking out and going to rally a lot higher. I do not think that for reasons mentioned in prior reports, including the VIX situation.

Last  weekends chart

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FEB 9th – Race Against Time

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Time has certainly been on our side and our trades have been making gains for several weeks now. That said, Nothing lasts forever, so as we move forward we do begin to think about where we are in the stream of time. We are basically racing against time, but I am not concerned yet.  I will discuss this briefly now and a bit more in the weekend report.  Lets review the markets.

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Feb 8th – Still Chillin

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I find that I'm still not making any changes to my thinking since the weekend report. Let's review the markets.

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SPX - I'm watching the green trend line, and that will let me know when the general markets are ready to drop into a dcl.  Even though we do have a break out, the SPX has basically moved sideways since early December.

SPX WKLY from my weekend report. I'm not expecting a strong continuation higher before we roll over.

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