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Jan 27th, 2011: Update 2 – Morning/Mid-day

Posted by pugsma on January 27, 2011

1:20 pm EST:  USO (Oil) looks like it’s testing the 200-day SMA (35.77) and lower channel line after putting in a “Golden Cross” back in December.  USO (Oil) typically (historically) makes a low in early February. 

USO Daily Chart:

11:30 am EST:  Here is the 15-min chart, which has remained on a MACD “sell” signal since yesterday mornings pop higher.  A red close today under the 1291 pivot would be a warning sign and red close under the 13-day EMA of 1284 would be a trend changer.

SP-500 15-min chart real-time link: http://www.freestockcharts.com?emailChartID=57c06900-c1be-416e-a8b7-f6f73d415287

SP-500 15-min chart (11:25 am):

10:20 am EST:  Well we got the pop out of the small triangle and hit 1300.73 thus far.  It will probably take another run or two at the 1303 pivot resistance today.

SP-500 5-min chart (10:13 am):

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