Thursday, October 29, 2009

SP 500

Looks like resistance at the wedge to resistance is going to be too difficult to jump. Price was turned back at the trendline and is starting to fall out of the wedge. The indicators are rolling over with plenty of room to the downside.

This looks like a good place to sell. Shorting at 1060 with stops near 1075-1080 ought to work.

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