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Thursday, September 17, 2009

The Trendlines




The Dow hit the parallel line.

The Wilshire 5000 produces amazing waves and trendlines. Its pretty much the entire market after all.

The third chart is a closeup of the long range Wilshire. A spinning top sitting above a key crossroads at 93% daily sentiment etc.

Also note Kenny's post and be aware of the alternate count that EWI may be saying today was the top. http://kennystechnicalanalysisblog.blogspot.com/2009/09/market-conversation-for-september-17th.html

Most stocks and indexes sported a doji or shooting star. Many potential "exhaustion gaps" need closing. So at least that paints Friday as a potential down day if the candle patterns follow through.

1039 is the key level. The bulls must maintain above that to keep this rally intact.

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