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Thursday, June 10, 2010

SPX Rally

Not much to say, other than that the market opened with a 20 point gap for whatever reason and that it was sustained for the rest of the day, even closing into strength at 1087 right into the descending upper trend line for a 30 point gain from yesterday's close.
A very nice run that could open the road to the 1100 resistance level at the 200 day moving average if the bulls can keep the momentum going.
The market is right in between 1040 bears and 1100 bulls territory, let's see if it can resolve to either side, so that we can return to a more normal trading environment.

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