Wednesday, November 28, 2007
Looking for Retracement to 1490
Follow this LINK for a look at the Daily S&P 500 chart. Fifty % retracement level would take us right back to the 1490 Bull/Bear war zone. The recent blended candle pattern, (bullish piercing), along with seasonality has this market really jumpin' today. Going into the final hour of trading the S&P is up 2.90%. Twenty-seven of my thirty-two GARP stocks are trading higher with some many of those gaining 5% or higher. Looking for consolidation of this move so I'll be watching the 60 minute candle chart closely for the next few days.
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