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July 13th, 2010: Update 3 – Intra-day Mid-day

Posted by pugsma on July 13, 2010

11:55 am EST:  Well the SP-500 hit my daily 1097 target at 1097.19.  How many days in row have I had the target price pegged? Almost as many as the 1st place Chicago White Sox current 8 game winning streak.  🙂

 Both the SP-500 and DOW-30 have broke out of their 50-day SMA and their down trend line of the 1220 April high.   The DOW especially has shattered both marks.  The RSI has broken it’s down trend line and the MACD has had the positive divergence with price and a bull cross.  All of this is a good sign of an intermediate trend change from down to up.

SP-500 Daily Candles Chart (11:39 am):

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