Thursday, August 20, 2009

Morning Review 08/20/09

Almost a carbon copy of yesterday morning. $TICK breadth is confirming the up move; however, the market is testing short-term resistance or the bottom of the range of last Wednesday and Thursday. This is also the third up day in a row. The three day rule states that the smart people are the buyers on the first day, and semi-smart people on the second day. Smart and Semi-smart people don't buy on the third day.

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