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S&P’s still climbing testing good resistance above

Aug 4

Written by: dpavlatos
8/4/2009 6:53 AM

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S&P’s are still in a good up trend.No real sign of a reversal. S&P’s tested a major level of resistance and

respected that level of the 100100 area. We now have yesterday and this morning holding resistance so far.

Momentum is also showing  a divergence maybe hinting that we could back down into the 982 area.

There are many important economic reports this week including unemployment. There might be a small

retracement in the picture while waiting for the to see the economic results  to finish.

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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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