Monday, June 15, 2009

This Rally is Probably Over

Today's decline below the last 2 weeks' lows tilts the odds highly in favor of the top being in for this rally since March. I am really only posting this because I want to make sure any blog followers who participate in the trades take this opportunity to get in the suggested trade if you were not already, or got stopped out, etc.

As I have said at basically every potential top for the last month or so, when the top is in, you will typically see a larger (and often faster rate of decline) decline than any pullback during the uptrend. This often undercuts the first major support before making a significant pause or rally attempt. That would still be 4-5% lower than the current S&P price.


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