SPX is right around some major inflection point, but both the RUT, and the COMPX have considerable upside room which makes me think we are going to see the SPX break this trendline to the upside.

After the break I think it will selloff to test the line causing a break even for the week in [...]

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In staying with my plan I bought some morning weakness by using the free cash from yesterday and bought the SPX. An up close today will likely see me cashing in and taking profits. I expect volatility the rest of the week and then finally want to be long right before the Fed meeting.

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Holding Short in Rydex funds, long in my beta portfolio that will almost definitely swap to short on Friday at the close. That means I sell the longs at the close and put in orders to short at Monday’s opening price.
Weak consolidation on the NDX holding now underneath its H&S neckline. Dow double topped today [...]

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If the market closes down today it will likely setup some consolidation or potential a 1 day quick up move. Either way the market will likely move up into the end of the month.
IMO the DOW and SPX need to move down to catch up with the NDX. The NDX can always get more oversold [...]

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Looks like the NDX has reversed course today. I expect a very strong close.
Its going to be tough to determine if tomorrow will bring a second consolidation type day or pure profit taking.
We are a few days away from a small pullback before potentially launching higher.

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Stock market prediction for 10:30 am

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Looking for a higher high tomorrow with IBM beating estimates, but I think we finish lower on the day. This will keep all the bears in their positions.
Many technical analites are extremely bearish because of 50 and 200dma breaks.
If this pattern plays out, bears will consider the failure at the high weakness and will either [...]

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IM, Ingram Micro will replace Neiman Marcus on the S&P 400 Mid Cap Index. Another change to the S&P 400 is the swap of KEA, Keane, for GME, Gamestop.
Laserscope, LSCP, a medical laser company, will replace Electronics Boutique Holdings Corp., ELBO, in the SmallCap 600.
Both changes will take place at the end of trading Friday.

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Looking at the futures, it appears the market is setting up for a relief rally on Monday. Be careful. This is either setting up for a top or a bottom. Depending on which way Monday goes. The futures are up nice right now, but if the day ends up selling off, we may be looking [...]

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