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Over the next week the market should rally to the top of its current trend channel (green dash lines). There is midpoint resistance at 1091 so its coincidence with the upper channel line means that the market will encounter strong (though temporary) resistance there. It is also worth noting that if today's high marks the midpoint of the current upward swing then the market should soon reach the 1094 level (purple rectangles).
1 comment:
Carl any comment on the volume being so low? Just following through the Yom Kippur or perhaps something else we should read from it?
Thanks.
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