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Winding Down
December 23rd, 2008 at 10:06pm · No Comments
The financial markets are winding down into holiday, light-trading mode. I don’t expect any substantial moves until after the New Year. The eMini charts are both close to the bottom of their channels on the 60 and 135 minute time frames. The tick cycle-traps look okay, with the 135 minute version in a defined up trend. I’d prefer to see one more rally to set up divergences prior to a larger decline after January 1.
Tags: General Market Commentary · S&P 500
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