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Sunday, June 19, 2011

E-minis [Update 12:30AM]

[Update 12:30PM: The price action is still underwhelming.  Still struggling with the lowest recent resistance. One aspect is that the hourly MACD signal lines are "resetting" and price action runs the risk of expending any positive divergence in a wasted effort. That could change, but the burden is on the bulls as we are in a downtrend.
[Update 10:30AM: A look at resistance levels, channels, etc.]
[Update 10:06AM: Possible w-x-y formation.
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