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Wednesday Road Map
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Wednesday Road Map

Wednesday Road Map

by The MoleJuly 28, 2010

Since it’s still the summer doldrums and many of you guys have mentally checked out I will afford myself a quick drive through update for Wednesday.

Here we go:

Basically the same picture as presented in yesterday’s update. Today looked like a bit of topping action and after an early morning spike (don’t we love those) we turned on a dime right at the 1120 mark as expected. We may see a drop towards the 1100 mark tomorrow but as of now I expect it to be contained. As of now it doesn’t feel like this thing is over and done with – lousy volume and distribution patterns notwithstanding. As ‘thespookyone’ put it a little while in the comment section: Breadth leads price right now (and trumps volume).

Soylent Blue? We should be so lucky! But trading on hope is a recipe for disaster. So, plan for Green and take Blue as a gift to the bears if it should present itself.

See you on the other side.

Cheers,

Mole

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About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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