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Let's review our market activity for the week. After enduring a lot of choppiness in various Market Sectors recently, this was a week of change, with out prior reports discussing 'crossing the line' and 'Follow through'. Let's take a look...
Read MoreYesterdays report was entitled "Cross That Line", and the markets did just that! They crossed the lines that we were looking at, so I figured that it wouldn't hurt to name Fridays report, "How about some Friday follow through", to see if they would accommodate again.
Let's take a look at how accommodating the market action was yesterday...
SPX - SPX crossed the line, breaking the down trend.
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SPX - The General Markets are shaping up and as mentioned in yesterdays report- I expect the SPX to cross this line. That is ( at least short term) A bullish break out from a down trend. We also have been watching this triangle formation.
And this is why I mentioned that I would expect a break higher...
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