Tuesday, July 19, 2011

Market Update

Sometimes by the time I'm done capturing and annotating charts, uploading them, and posting them, the market has already made a quick and decisive move. In the last post  was looking for a test of the day's highs and for financials to pick up the pace.
 The SPY successfully broke intraday resistance.

Financials picked up the pace at the white arrow, they are now stuck right at two resistance levels, thus the market has paused, we'll see if they can power through that resistance, I suspect t will happen, maybe not on the first attempt, but the 3C charts look strong enough to make t happen.

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