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Saturday, February 9, 2008

Follow up on 5 min support and resistance SP 500


One more chart two days later of the same lines.


42.50, 39, 29, 22.50


Great trades
Head and shoulders, Inverse Head and Shoulders
Volume break outs and direction

Support and Resistance in the SP 500


I have used these lines the past few days and look forward to trading them next week too. Just a note on Spill over...


I expect to see the British Pound then the Euro Show weakness against the dollar. The European Central Bank is jumping in adding liquidity to their markets because of the subprime debacle. I expect to see some consolidation and then a fall.


We shall see.


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