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Monday, December 15, 2008

12/15/2008 Market Recap: No Title

No much to talk about today.  Tomorrow is a Fed day, so no idea what will happen, probably big swings again after 2:15pm.

Let's take a look a few charts.

0.0.2 SPY Short-term Trading Signals.  Today SPX falls right at the lower edge of the rising wedge (or the ascending triangle).  Inside day, maybe the market is waiting too.

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1.0.3 S&P 500 SPDRs (SPY 30 min).  Note the level of TICK represented by the blue curves on the top of chart.  At such a level, I have sufficient reasons to doubt how deep it could drop down in any case the market plunged.

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3.2.0 CurrencyShares Japanese Yen Trust (FXY Daily).  Japanese Yen is showing the same thing, three black candles in a row which likely causes reversal in normal circumstance.

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