Tuesday, February 17, 2009



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Path of least resistance is down.
BPSPX has also broken below trendlines.
The most obvious first target is the Nov/08 low @ 750.

Based on the above short term chart of SPY, the price levels for ES where the odds are in my favour are 836-840, and 806-809.
This implies that there will be a gap fill attempt, and where it reverses will go a long way in setting the tone for the session.

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