Monday, January 13, 2014

Things change

I'll admit the market was looking bullish since the past week every intraday decline was met with demand to close the day near the highs.  That came to an abrupt end today when the market crashed through the trading range.  These is decisively bearish in the short term.  I would like to see a rally to test the broken resistance around 1825-29 before initiating a short position.  So lets watch and see what happens.  

Thanks for reading. 

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