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Thursday, March 30, 2006

Timing Market Turns 3 - 03/30/2006

Market Timing - posted at 1225 EST

Swing trade - 100% long positions; stop for all positions to SPX 1290.

Investor core - 100% long positions; stop for all positions to SPX 1290.


Resistance hit. An 88% downward retracement of the morning's movement has closed a small gap at SPX 1303.60 - from here a bounce and then finish the correction structure, if needed.


We expect a turn at 1245 to 1300 EST (a low is projected at 60/40). Structurally, a low would persuade us to look for higher prices soon after the turn. Then lateral trading with a downward bias late in the session.

More at 1430 EST.

Good Trading and God bless

W. B. Busin

Posted by W. B. Busin at 3/30/2006 12:34:00 PM

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