Tuesday, August 30, 2011

Nothing Important until 1260+ or 1100-

We are rangebound until 1100 or 1260 are taken out.  We are approaching overbought on the short-term outlook.  Overbought could very well extend through the end of next week.  Volume is dropping with the short term new highs, which shows weakness.

An intermediate top near 1260 is expected.

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