Wednesday, April 6, 2011

The Market is Bumping Up Against Resistance Right Now

The market has recovered very quickly. It may be getting a little tired here. We might expect it to go sideways for a little while, correcting through time. A small pullback would also be a possibility, maybe 3%. On the other hand, if it breaks through resistance we could be off to the races.

The longer-term trend remains to the upside. I am quite sure that any dip would be bought in short order.
(Click on chart for easier viewing)

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