Friday, July 9, 2010

The Tight Rope is Getting Rather Steep

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As we all know, nothing can go up forever, and that includes the incredibly impressive rally the stock market has put on these past  2.5 days.  The gap that marks the 50% retracement has been closed within the hour, the TSI on the 30 minute is sporting a conspicuous negative divergence with today's higher price and, well, nothing goes up forever.
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Click on the chart to ENLARGE

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