July 16, 2009

07/16/2009 Intraday update

1:54pm

based on measured move and momentum, we might have a higher high ahead… 

 

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1:50pm

it break out right after I post the chart below.  Market is really strong.

 

1:47pm

this CT is not good for bears.  five waves inside is very clear.

 

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1:21pm

SPY 5min chart.   two false breakout already, let’s see if third time is different…

 

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12:45pm

after MAD, it’s likely to close as a doji.  lots of overbought signal, expect some pullback at least from this level.

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