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  1. Charts Suggest More Upside Coming

    It was a mixed day in equities, but considering how the market started out and the way it came back I would have to view the action as bullish. Options expiration week is coming up next week so the volatility we've been seeing is probably the set-up for that.

    The Seven Sentinels continue to suggest more gains are coming. Here's today's charts:

    3/26/04-namo-jpg

    As expected, both NAMO and NYMO continue to push higher, but still off the highs we typically ...
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  2. Soap Box

    If you're new, or just want to see me step on my soap box... I promise I'll make it short.

    Yes the short-term trend has changed, and many of my channels have been broken. I'll point out many of those short-term channels were already extended and soon I'll be adding new channels to reflect a flattening stop, slow-down, or rise.

    In the TSP world (with 2 IFTs) you have to consider what type of trading will get you the best results over the long haul. Short-term trading within
    ...

    Updated 02-11-2010 at 11:15 PM by JTH

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  3. Still Bearish/A Look at a LT Allocation

    As I noted in my account talk today, I am still bearish for the IT time frame. ST timer framers could get a few points of upside here, but I feel the risks of making a strong handed entry at this juncture is still too high. As for the Greece thing, the smart money traders are already factoring in the next crisis. It's no coincidence that the market sold off initially before the jobs report as anything in print that any of us can read has already been factored into the market.

    Other ...
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  4. Nailed It!

    It didn't start out very well for stocks in the early going today, but by 1100 EST an intraday reversal in the dollar helped stocks also reverse course and eventually end the day not far off its highs.

    On the economic front, there was a bigger decline in initial jobless claims this morning, which was not expected, while continuing claims hit a one-year low.

    Across the pond and as expected, the EU officially announced that financial assistance would be made available ...
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  5. Getting Closer

    I'm heading back home tomorrow (Thursday) so this evening's post should be the last one this week without charts.

    Today we got the weakness I was looking for, but the market closed well off the morning lows posting modest losses by the closing bell. I made a decision to enter the market at the close today going 50/50 CS. I may be early and we could dip lower again, but the Seven Sentinels continue to improve.

    NAMO and NYMO both moved up a bit today and remain on a buy. ...
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