Thursday, June 16, 2011

PIVOT POINTS AND POTENTIAL FOR AT LEAST ST BOTTOM

Confluence of 200 EMA and support line....but 1249 lies below and VIX 21 doesn't cut it for me.....however WED was another 90% down volume day, 7 in the series.....we should be ON GUARD for a marked increase in demand....a little less so looking for substantial more downside in at least the NEAR TERM>
Breaks of 200 and 1249 might change that. 50 is bending down now and should also provide Resistance to any rise that gets that far.....the market will tip its hand....we will be ready....

D

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