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Thursday, August 2, 2012

August 3rd Gann date and bullish inside candle on 4hr

SPX turned on July 31 Gann Cycle date, and now we head into August 3rd for a possible bounce based on an inside candle on 4hr chart at close.  SPX and VIX both closed RED today.  If SPX breaks through 1372 on Friday then another test of 1393 is possible going into August 9th. But if we do not break 1372, then we head back down to 1340 and possibly lower.  For tomorrow's trade, 1363 and 1352 are support.  SPX is still above the trend average.

NYMO Sentiment Chart
 
NYAD Sentiment Chart

VIX Sentiment Trend




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