Friday, June 29, 2007

FED Leaves Rates Unchanged...Markets Also Close Unchanged

Other than the slight flutter in PRICE movements prior to & after the FED announcement, it was still a decent night of trading for some - a good 10 points in the overall range of trading.

On the TREND Chart, PRICE is trying to create a Higher Low (Leg 2 of Bear Break), as it approaches PRIME Support. Last PRIME Support is now at 1492.00

As for the SWING Chart, PRICE has already hit PRIME Resistance, which is Leg 2 of Bull Break. This Leg is not complete until PRICE heads back down to PRIME Support. If PRICE is able to give us a Higher PRIME Low (Last PRIME Low is at 1492.00), then the Bulls may get a chance to swing us back up into the Bull TREND...'s really any one's guess.

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