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Sunday, October 17, 2010

Ready for SPY Price Correction

- Linear Regression Slope has started to turn down. Fair Volatility Estimate has started to move up and Stochastic Oscillator has started to turn down as well. So my technical indicators are signalling the rising probability of a price correction in SPY.

-However, SPY is still in a very strong uptrend, and we don't want to get off this ride. I'm moving my profit/stop level to 116.6 and would consider getting long again around 115.0

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