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Public blog posts only as education and entertainment. private membership market updates reflect my view and analysis of the market. The information contained on this website and from any communication related to the author’s blog and charts is for information purposes only. The chart analysis and the market comments do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor. And i absolutely discourage trading options.

Thursday, March 3, 2011

Mar 3 pre market update

humble on Mar 1, did warn "the pressure is on bears, as expected", while humble is heavily long $spx.
1. $spx upper red Fibo fan line is resistance.
2. the purple trend line around 61.8% of 1325+- is resistance, also is Humble's target price as updated last 2 days.
3. highly $spx and $indu related Initial Jobless Claim(Humble has been saying so for months) is the lowest since summer 2008, and broke through the important green trend line. this highly likely indicated market could make new highs. not right away, but down the road, probably some time next week.