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Friday, June 18, 2010

birthday gift

Cheers to another year young... happy birthday to me :)

Today an interesting set up regarding JPM developed. It is breaking from its negative trend. IMO, this is a good indicator to the broader financial sector.

The 20SMA was clearly a resistance point, and today if this set-up holds, JPM will no longer be in that down-trend.

JPM looks to be a buy right now, and the next level of resistance is around high 40-low 41.

(I am playing the anticipated push up within financials via GS and C, and am using JPM as an indicator.)

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