Tuesday, September 27, 2011

Approaching A Significant Low

The next low in the SP500 should be a significant one - leading to a multiweek rally.  The best course is to wait for confirmation that a low is in place with either a positive divergence MACD buy signal or an IBD confirmed rally call.  The impending rally should retrace 1/2 to 2/3 of the decline from May before another major round of selling.

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