Monday, July 18, 2011

Fade starting to kick in

Initial gap down was met with more selling, but we are have no reversed and are headed for a key short term resistance level at 1308.25

We may get a retracement from there, but that will be key to watch for the next setup. Ultimate target is 50% of the gap fill, and then a full gap close, if the fade is going to play out

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