On Tuesday big boys returned from summer vacation, we had an inside day on TLT and then a red doji that confirmed it. So something was brewing in the bond market to take the short off. We discussed this in the chat room, and one of our experienced trader, racer, was very bully as long as 1398 held. Tomorrow Friday is another gann date. It looks like 1440 top from 2008 will be tested.
Either we test 1440 SPX on Friday, or not, Gann said to watch for a change on 3rd or 4th trading day from important top for change in minor trend. It may become a beginning of a major trend. That puts us to September 12th.
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NYMO sentiment looks like it has alittle bit left to the upside.
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