Sunday, September 5, 2010

Resistance 1105 spx

Strong resistance at 1105 Spx. Downtrend line, fib hit and SQ 180 degree from 1039 hit.
As far as the trending model it offered a aggressive buy at 1080.39 (9-02) not reported.
We have a bullish CIT if we remain above 1088 for Tuesday.
Next few days should tell us if this was a violent bear rally or there is legs under this market.

Our 1122& 1082 purchase we covered at 1070/71 or at the market when I posted that info, so at least 62 spx points bagged that should be at least +$1500 depending on the 2 etfs.

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