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Kevin Tuttle
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Kevin A. Tuttle is the CEO and Chief Strategist of the Money Management & Capital Services firm Tesseract Asset Management, LLC (TAM). TAM serves as the General Partner of Long/Short Equity & Alternative Investment Hedge Funds and operates a Capital Services division oriented toward... More
My company:
Tesseract Asset Management LLC
My book:
Master Traders
  • TAM's Pedagogics: April 11th, 2011 1 comment
    Apr 11, 2011 8:56 AM | about stocks: SPY
    Since “The Fools Friday” the SPX has been grappling with the topline resistance of, let’s just say 1,340. There’s been 6 trading days thus far in the 2nd quarter and there’s been 6 attempts by the bulls to capture one of Morrison’s best lyrics and “Break on through to the other side.” On Friday, the Bears finally exhausted the bulls and won the battle, for now. From here on out 1,340 will most certainly be the line in the sand which all investors will be watching for the next potential bull move.
     
    SPX Hourly

     
    For now we look toward the next potential support. This is an upward sloping trend beginning from the neckline of the Inverted Head & Shoulders back in October of 2010. At this point it’s a little difficult to ascertain the exact level of the trend, considering its slope and time to arrival, but 1,275 seems to be about right.  
     
    SPX Daily

     
    We do believe volume will remain light and volatility, unlike the past 6 secession, will remain high. If conditions increase their intensity, watch for unexpected pitfalls. 
     
    Have a GREAT Week!
     
    KAT

    Themes: SPX Stocks: SPY
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  • jcampbell5
    , contributor
    Comments (2) | Send Message
     
    Ding Ding market is at a cross roads, and the graphs do not lie, just some weird tape over the last week, great charts and commentary.
    11 Apr 2011, 09:13 AM Reply Like
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