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Neutral Stance

Jan. 03, 2011 1:57 PM ET
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aarc's Blog
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As expected, the first 2 trading days of Jan 2011 should be rally days.

I still expect a follow thru rally tomorrow after the Wide Range Bar rally today UNLESS the Major Resistance of 1276 for the SnP500 proved itself accurately strong.

There are major resistances of 1281 for the SnP500 and 11,743 for Dow Jones on the intraday 240min charts.

In keeping with my swing trade target of 1276 for the SnP500;  I sold the remaining 1/2 SSO load bought last Nov 30, 2010 and am now in Neutral Stance with 15% cash and trying to raise a total of 25% cash IF and WHEN SnP500 goes for the 1292 to 1300 Nominal Target Range on the Daily Chart.  Otherwise, I am using trailing stops on some stocks and ETFs just in case SnP500 decides to go down hard from here.

I am back to Watch and Wait Mode as far as swing trading and/or investing is concerned since the 1276 and 11,750 are the Major Resistances I don't want to mess with. 

-   img40.imagefra.me/i513/aarc/141u_e11_ubk...

-    img40.imagefra.me/i5cd/aarc/11vy_c08_ubk... *

SnP500 and Dow Jones are now at their most dangerous levels since the reversal rally of March 2009. 

Be very careful out there is the advice I am confident has higher probability of success at this stage since I expect a majority of my detailed Technical Analyses from heretofore may start to prove more wrong than correct.

* Dow Jones monthly chart was published last Dec 2010.

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