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Wednesday, October 28, 2009

Possible Gap Bounce


Got it half today right.....Spx sold off...I didn't expect a super extended minute wave 5 down after the European close.....

I showed up expecting a fight with the bulls and they pulled a toilet plunger on me ...
They waved me off with a California Howdy( the Bird) and went back into the barn...

after that there was not a buyer in sight....

Classic Step aside bull tactic.. I have seen this movie many times....

I am expecting a small sell at the open then a bounce out of this gap fill spx 1040.50....
It could go as high as 1074.92 but I would be happy with 1060 up to 1060.50....

But...be prepared..if the gap bounce fails, there is nothing to stop the fall until 1020 to 1016.00

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