Wednesday, June 16, 2010

Trendline Resistance on Stocks






Here are a few charts that show various indices have rallied right to what I view as important resistance. It looks like make or break time. A reasonably low-risk strategy is to reload shorts here at resistance with stops a few points above the lines on a closing basis.

A previous post mentions 6/24/10 as important timing. After reviewing data again, and since the other CIT dates posted for June have all shifted to plus 1-2 days, I think it's more likely that the 25th or 28th will be the CIT day.

Kim Rice 6/16/10

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