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The EC is now ready for a possible breakout to the upside

Jul 20

Written by: dpavlatos
7/20/2009 7:05 AM

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The EC had a huge coil and is now hinting new trend and leg up is near. We have all the signs of a possible

breakout is coming. We had a buy signal when we closed above the 30 SMA of the highs 4 days ago.  That

started the rally but now it is beginning to look like a much larger move is on the way. Today we just tested

the top of the triangle on the daily’s. We also broke above the momentum trend line to the upside. The ADX

is turned up and above 20 after coiling for 4 weeks.

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About Damon
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Damon Pavlatos’s 25 years of multi-faceted industry experience includes the following: Since 1978 he has held Exchange Memberships on the CME, CBOT and Mid America Exchange. He has traded Futures and Options for 20 years specializing in Index Futures.

From 1981 to 2000, Damon managed the CME Index and Floor operations for Shearson American Express, L.I.T. America, Gerald Inc. and Rand Financials. During his many years in the industry Damon has supplied Technical Market Analysis for various Index Funds, Institutions, and Exchange Members and has been featured at Tradeshows, Futures Seminars and in various trading books.

In 2000 Damon became a Principal Partner of FuturePath Trading LLC® and PhotonTrader.

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