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What the market is telling us (Update)

8. April 2009
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From last night's post, the market is playing out exactly as expected.  We bounced definitively off that .618 pullback level and up toward the target (865).
 
 
 
However, if we are a bear, we have the following scenario currently setting up (same chart, different scenario).  Once again, the overnight action will determine how we trade tomorrow. 
 

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