08.15 am Amsterdam
Yesterday's price action was impressive. In the previous post, I mentioned that I dont expect any kind of big up or down move.
After I sent my post, Geithner spoke and his comments were seen positive, rallying the market up to 850.
At the moment, S&P is trading around 842.
I still stick with my argument. We are in a channel. 830(825)-870. And I believe, eventually 825 will give the way for a further down move.
The bulls are cheerful after yesterday's victory but stil the GOOD news to break 870s is nowhere to see.
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