My main concern and thoughts this weekend surrounded the heavy selling we experienced last week away from the 200 day moving average. I said in previous posts that we needed to not only break that level but hold above it to really get the bulls going crazy – and that did not happen. From the chart you can see that we merely pop over the 200 DMA, hit the major fibonacci level and then sold off. I’ll be watching the latest lows this week for any signs of weakness.
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