Look at that bounce at the 50-day MA. It's what I was talking about yesterday. I'm not sure if it will hold or not. The speed at which we fell in the afternoon would scare me out of a bullish position. But, I also do not think the break below the 50-day will be easy. At the moment, I'm looking for some more consolidation before a move in either direction. I'd continue to watch the 793 area for potential bounces or breakdowns. Bounces or breakouts may occur around the 825 level. I really like the patterns that I posted below. I find head and shoulder patterns (or slight variations of them: double tops, triple tops) fairly reliable and easy to get out of if they don't appear to be working. Also, I like watching for flags--basically, consolidation levels. If it feels like consolidation is taking place and you jump on, there are often large price breakouts shortly thereafter.
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