Tuesday, July 20, 2010

Higher Low Playing Out Like A Charm

Hi readers,

Earlier today i posted a chart of the SPX and pointed out that we could be dealing with a HIGHER LOW scenario which if true would be quite bullish for the indexes in my opinion. Here's an updated chart of SPX showing today close. We indeed do now have a higher low!

Notice how the market rallied in the midst of horrible news from GS, TXN and IBM. When the market rallies on 'bad news' then this is your cue that is ready to rally.

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