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Tuesday, October 16, 2012

SPX 1458 and Thursday 34th fib cycle day

I posted on chart.ly that the bounce was coming last thursday if 1429 held. 

http://stocktwits.com/ganncycle

So we got the bounce on Monday per my gann date that I posted on our free trading chat room 

Today both SPX and VIX closed green, so it is likely that SPX will go red in coming days.  This thursday is 34th day from the high of the year on 9/14.

2hr SPX chart shows 1458 is the swing price to watch.  If it holds, it will be a good place to short going into election. 


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