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Excerpts from recent newsletters:
Smart Trades Update 6.16.11
Although the triangle scenario is increasingly questionable, it
is nonetheless
still viable as long as the S&P holds above 1249. The low so far is
1258:
Finally, Apple has broken its triangle pattern. This tends to
make me favor the
expanded flat count for the broader market as well. The lower trend
line of the
bull flag pattern will intersect with the rising long term trend
line near 315. A
solid break of 300-315 in Apple would make me reconsider this
pattern for both
AAPL and the broader market. Please note volume and momentum are
both
waning on the decline (so far) which is consistent with a
corrective decline:
Apple 6.20.11:
Smart Trade Update 6.22.11
The stock market is leaving its options open. Short term the S&P
held the lower
extreme of where a triangle needs to hold. If that's the case the
INX could rally to
the 1340-1350 area in "D" of a large contracting triangle:
The decline from 365 looks corrective. New highs are favored (365 and higher):
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No claim is made that the recommendations or systems will be profitable or that they will not result in losses.