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Friday, July 13, 2012

Friday the 13th

Going long again at 1327 is paying off nicely [see: Shakeout or Fakeout], with SPX currently trading at 1353.  We had a nice reaction off the Fib .382 at 1326.19 and have obviously broken out of the little red channel that was guiding the downside.

We're well on our way to our target area, and will devote the rest of this post to potential outcomes.

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