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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Thursday, 28 July 2011

S&P

Ideally we want a lower daily swing  below 1333.5 but that may mean having to enter at lower levels (although a safer signal)...if wanting to be more aggressive Thursday's high (a 2nd LH but above 1333.5) could be s/l,or even yesterday's high
 Breaking the 2 ema's is not positive for the bulls and a fresh bear cross might be deadly


on the murrey math chart the 2 swing lows near 1250 might be an initial target...1240 would be equality with the first run down.Also need to watch support from the 1x1 on Dino's chart (earlier post)

obviously a "deal" from Washington could produce a violent rally,so caution is warranted.I am not convinced any such rally would be sustainable though

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