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Failure
April 14th, 2008 at 6:16am · No Comments
The failure of the mid week rally attempt last week sets up a test of the January and March lows. The daily chart below shows how the cycle-trap has just turned down, pointing the way to a move to the lower channel at 1259, some 75 points below Friday’s close. At this point, the assumption has to be that the next test of those lows will fail and prices will fall still further.
Tags: General Market Commentary · S&P 500
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