Thursday, November 5, 2009

Ticking time bomb

The bulls have a few more days left in their counter trend rally before the ticking time bomb goes off again.  We are still a bit oversold and will have worked that off by next week.  Post employment report relief and sheepish mutual fund money should pile in early next week to form a top.  Strong resistance lies just above yesterday's highs and should prove to be a formidable barrier next week.  My preliminary daily outlook is early weakness and then late day strength. 


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