Tuesday, September 20, 2011

1198 holds- for now

The first try to get back above 1198 was thwarted, and now they are trying again.

The FOMC tendency is not in stone as an "always", despite what some crooks will have you believe, and the market did have the upside last week. Still, I think there is a better than average chance we at least try to trade higher into the afternoon tomorrow, but it may be a grinding affair.

It's very choppy here and breadth is slightly negative, and if it stays this way, I'kll be taking a mid morning nap!

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