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Wednesday, September 1, 2010

quick thought

Nice action today.

The last two mini-rallies indicates the weekly 28SMA was the SP500's resistance. Observing the valuations, sentiment and level of under investment we should get there again. (Personally I think we should breach the resistance and re-test 1200, but I will re-evaluate when it gets to the 28SMA of the weekly chart.)

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