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The Dollar ran into Fib resistance at (1) and the 500 index held at support. Now the Dollar is doing its best to break Fib resistance at (2). Will this be the straw that causes the 500 index to break rising support line (A) at (2)?
For investors that are shorting the Russell 2000 (short Russell post here) and the NDX 100(see shorting NDX post here), keep the short positions, just bring stops a little tighter than normal to protect gains.
Ian…The support line on this chart has held at both lows this summer. Very respectible support line and this support had a ton to do with yesterdays 250+ rally! Good to know that one Lehman was enough!
Dude,
Last time Lehman went bust, and that was huge.
No Lehman this time unless its at the movies “Margin Call”.
Markets will bounce, 2012 will be the fun.
The VIX doesnt care !