Friday, May 6, 2011

5/6 11:15

The market has been flirting with the SP futures 30-minute envelope for over 2 hours.  Currently at 2348.50. 

The 60-minute M/A caught up with the DJI.  If the market turns back here it could be time for the post-jobs-report letdown.  When a good report does not result in a rally continually making new highs often the stock market succumbs to selling.  Breaking the 60-minute M/A would be a trigger.

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