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As suspected, this move up was weak. This does not bode well for the bulls. If we don't close above 1122 tomorrow or shortly thereafter, this high would be 2 days early which is nothing too terrible, but due to the tough time this market has had moving up this week is an indication of weakness. Since the next low point is due in a week or so, and considering the weakness we saw this week, we could have some real problems here.
Could easily take out the lows of 3/24 I would think.
Is anyone seeing the same thing?
See attached chart if so inclined.
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