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Dec 18th, 2009: Morning Update

Posted by pugsma on December 18, 2009

The SP-500 traded up between 1100 and 1103 in the early morning action, so the bullish option is a go for now.  The SP-500 will need to get over the 20-day SMA of 1103, close the 1106 to 1108 gap and finish above 1105 today for me to believe that we have entered the wave (3) up (see the 1-min chart).

1-min Chart:

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