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Gump Trader
I am not a smart man... but I know what trading is
Wednesday, June 10, 2009
SPY pivots and target
SPY has dropped precipitously from the open and is currently oversold from a technical standpoint.
We are at S2 and significant trendline support. A close below this level would be very negative for the market.
My guess is that we bounce to S1 (94.06), but I'm holding my shorts for now.
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