More Whipsaw Action

May 24, 2006 · Print This Article

The bounce that everyone has been expecting came today. If all goes well tomorrow with the GDP release the market could further the advance. QQQQ and IWM remain oversold so we definitely have some room to move on the upside. Anyway, I have to keep it short tonight, although I have included a few good articles for your enjoyment. But before I leave one more note; as I have mentioned over the past few days keep a close eye on the 200-day moving averages for the major indices I list daily. This could prove valuable over the coming days and possibly weeks. We could be hovering around range for a while. Until tomorrow.

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