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TAM's Pedagogics: March 7, 2011

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Friday’s whipsaw action was symbolic of further investor indecisiveness. This action may be a playground for traders, but it can be somewhat nightmarish for the IT & LT investor. Technically the broadening wedge is still in play and until resolved, I don’t believe a ST direction can be determined. As penned last week, follow the secondary indices for either a preamble of pending changes or confirmation of resolve.

Dow Jones Transport Avg Hourly Chart
DJTA Hourly Chart

S&P 500 Hourly Chart
SPX Hourly