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Saturday, July 3, 2010

SPY - Updated
















There was some late selling complete before the long 4th of July weekend, so do we see a continuation of this on Tuesday, hum . . Monday is a market holiday in the US Markets. The last time that the US markets were closed the world made a decision on credit swaps and defaults. China release on a US close holiday that the were letting the yuan float. So the proof in the pudding. Weekly downward rally is still intact. 18 MA on the weekly is being attacked at the time of this posting. 100-98 targets appear to be in insight or the 103-103.50 on the high side of this report. One week is last before the options expiration week for July, is should be fun!?!?!