We Are All Day Trading Crackheads Now... (SPX forms continuuation pattern)

Nov. 11, 2011 11:16 AM ETSPY, DIA, QQQ, FXE, UUP
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Gary Tanashian is proprietor of NFTRH.com. Actionable, hype-free technical, macro economic and sentiment analysis is provided in the premium market report 'Notes From the Rabbit Hole' (http://nftrh.com/nftrh-premium/). Complimentary analysis and commentary is available at the public website (https://nftrh.com).

With the up and down spikes in the casino, you are either a nitro fueled day trader or you are a true believer, buying and holding with your eyes closed.  It is amazing how this mess jerks up and down with the news out of Europe.

But rest assured, they have put a big thumb in the latest hole in the dike over there.  But they will run out of digits at some point.  Oh, and we have not even begun to talk about over here.  The good old US of A has not put its issues behind it by any means.  The US just looks good in comparison right now.  Let's see what the super committee and the Fed cook up on these shores.  Whatever it is, it had better not be a souffle'.

All the gloomy Gus stuff said, SPX has now morphed into a posture of a Symmetrical Triangle (continuation) pattern, and the yellow shaded target remains active.

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