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Tuesday, October 26, 2010
10/26/2010 Market Update
The market's current position could be interpreted as near the top in a double top formation, and it's about to start a down leg, or near the top, and about to start another run higher. The greatest profits are made near market turns, and this could be such an opportunity. My intuition tells me that a small leg down will start near the Nov 2nd elections with first support at 10,900 on the dow followed by 10,730. I do not see the DOW falling much more than that.
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