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  1. American business is dead. Being in europe for the month sure shows how much of the media is filtered in America. $spy $spx if u only knew
  2. @Evan_ET Soon China will re-create n sell cheaper products...US companies 50% overvalued. Next qtr will be no GDP growth ... $spy $spx nasaq
  3. $SPX $SPY SPY hit 111.56 and failed one more time. Does not mean it's done knocking, but it must move up through there soon.
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Up or Sideways in a Downtrend: The week ahead - May 31-June 4 2010 Print E-mail
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Weekly Forecast
Sunday, 30 May 2010 08:00

buysell2This past week we expected a whipsaw market as we mentioned last weekend and that is exactly what we got. It was not how we thought it would occur but the results where the same a little pain for both bulls and bears. We saw new lows but closed the week out flat to slightly up.

The reversal we got on Tuesday is a bullish sign, so the market will most likely move up or sideways for now, however we must not forget that unless the markets move above the previous highs of May 13 this is just a bounce in a down trending market. If the markets do continue up, we will be looking for a failure in the 1128 -1140 area on the SPX.

Traders buying long positions here will be going against the trend so tight stops should be used, as moves against the trend can and often do fail just as traders start jumping back in.

Gold is the only sector in a bullish trend and has the potential to move 10% - 15% higher. Caution and wide stops must be used when trading gold stocks as gold does not move like regular stocks and instead moves in big chunks in both directions.

clickforcharts


 

The Nasdaq Composite Index

COMPQX1


Standard and Poors SP-500 index

SPX1

The Dow Jones Industrial Averages Index

DJ-301

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GOLD - via the GLD

GLD01

The US Dollar (Dollar Index )

DXYO1
 

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