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发表于 2010-6-29 11:03 AM
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xing, could you give us a link about GS 865 target? If GS said 865, we must buy since 9xx.:(109) ...
yingying 发表于 2010-6-29 13:00 
-The S&P fails to sustain above the 200-dma with a clear risk of an H&S top forming…
-Early last week the market moved above the 200-dma which argued for some ST stabilisation and the chances of a deeper retrace of the drop from the April highs.
-The break however failed to yield any meaningful rally and the market has now moved back below the 200-dma on a close basis.
As discussed over recent weeks the underlying structure of the market has a negative setup and you can now also argue an H&S top is in the process of forming.
-The interim low from 8th June and the neckline of that pattern are now converged; 1,042-1,040. This region
also represents the first notable support below current levels.
-If a break below the neckline of the pattern can be achieved as looks the risk on a multi-week basis the target would be 865.
-Overall, the market structurally looks a sell on rallies with the MT-LT (multi-week/-month) risks on the downside.
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