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Saturday, June 9, 2007
Short Term S&P 500 Bounce and Re-Test (06/08/2007)
From a short term perspective, the S&P 500 should continue to bounce to the 50% (1514) or 61% (1520) retracement levels and then retest the 50 day moving average lows. This 50 day moving average (speculation) may not hold.