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Thursday, June 21, 2012

50 DMA held and closed below 100 DMA

Yesterday we bounced off 50 DMA and closed below 100 DMA.  Today's close above or below these support and resistance prices is important for the direction next week.  Bears need a close below 1342 by Friday to end the week in negative. Current trend average is 1334 SPX and 76.86 IWM.  Smart money sentiments are extended, but we saw that last time we had operational twist. 

Charts from yesterday is updated below.


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