Thursday, June 14, 2007

The Reluctant Bear, This Time Round?

Though the market was a little bit shaky after the initial upmove in the early part of the session, PRICE managed to move higher, albeit with some help from the release of the FED's Beige Book Report on the Economy after lunch time. With such thrust, it is no wonder that we are now back into the Bull Trend. PRICE practically went beyond the last (1527.00) and prior (1531.25) PRIME Resistances on the TREND Chart.

Do remember that on the SWING Chart, we have already created a Leg 1 of Bull Break. It will be interesting here to see if PRICE is able to head back up to clear, or fail last PRIME Resistance at 1543.00

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