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Friday, September 30, 2011


From a technical standpoint, the severe oversold has been alleviated with the sideways consolidation and it appears stochs and MACD history bars are rolling over again.
Other than the end of day squeeze (for the umpteenth time during this past 7 weeks), overnight action is not inspiring if your a bull.  Each stab uses up buying power and each failure to hold gains hardens resistance. The primary count is the market requires at least a new low under 1100 SPX. For the e-minis, its below 1077. 

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