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Chart Patterns are nothing but Footprints of the Greenbacks.
Monday, January 30, 2012
Map going forward
Slight sell-off today making today’s candle completely below the Standard Deviation 1 on the Bollinger Band, first time since Jan 03. However, we’ll err to the bullish side (buying dips/break-0uts) as long as we stay on top of this trend-line. If we break it, then it would be time to re-assess but until then ball in bull court.
Quite possible that the “easy money” has been made as we have broken the Standard Deviation 1-2 trend but as said — as long as we are on top of the trend-line the bulls have the advantage $SPY