Monday, June 21, 2010

PULLBACK

All averages pull back after reaching 50%-62% RET area, and below the 50 SMA. Either a pullback to 200SMA or Break of 50 SMA is to follow. Weekly STOCH are moving UP but Daily STOCH are pointing Down, so 3-4 day downside possible. 200SMA MUST support or much larger downside possible.

AVOID LONGS UNTIL TREND IS CLEAR AGAIN!!!!!

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