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Friday, March 26, 2010


Pretty aggressive buying overnight. E-minis have already retraced 50%.  Should be a real interesting day particularly if there is another gap up opening.  Watch for the internals too. If it gaps up, its likely going to have to stay open this time for the bulls until they get wherever it is they want to get.  Is it really 1200 and Dow 11000 or bust? Ok no problem.  Like I said last night..."yawn" at this stage. Don't blame me bears, call it the curse of the EWI "special update".
Of course the market is doing the inverse of the dollar (but only on dollar pullbacks) and the dollar is pulling back. And it could be the top of a wave 5 on the dollar too.
Good luck!
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