Sunday, July 25, 2010

Suspicious



The market ended the week showing some strength and the SP500 closed above the 1100 mark. The SP500 broke above the downward trendline and it is attempting to form a higher low/higher high pattern to reverse its trend. But until the SP500 can break above the 1131 level, I will be suspicious of any rally inside of 1040-1100. I still believe the current market environment is for short term traders, and I will continue to be cautious.


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