Stock Market Breakout To Downside Accepted

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Stock Market Breakout To Downside Accepted

By David Spurr on September 21, 2009 | More Posts By David Spurr | Author's Website

Market has accepted the breakout to the downside. The gap has not yet closed. ; Selling pressure has eased a bit, but volume at the bid still exceeds volume at the offer. The market has not yet been able to climb back within Friday’s range. Unless there is a big change in sentiment, I’m expecting more downward pressure. I won’t short this market, as one day does not make a trend. I’ll be patient and wait for better trade location to enter a long position. My target on a trade would be the 1055/6 level. Ideally I’d like to see an entry around 1046 level.

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