Friday, June 19, 2009

Defining the downtrend



Today's rally has stalled below Tue's levels, close to the 930 level mentioned yesterday, and there's a small chance that it goes as far as 940. I'd have to revisit my entire premise if that level gets taken out.

In the meantime, this bounce to the 930-935 area could very likely be the next lower top, starting to define the downtrend, very preliminarily.

Still looking for 880-890 soon.

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