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Wednesday 16 October 2013

Buy S&P 500 @ 1710- abandoned

Previous signal:
Buy S&P 500 @ 1710 if it stays above, for 30 minutes expiration
Breaking news: Boehner has agreed to take up the Senate's plan and allow it to pass with Democrate's votes

Update: Abandon Buy S&P 500 @ 1710
2nd Breaking news: A House Republican aide says no decision yet by House leaders on accepting to Senate plan
Breaking news keeps changing the market's direction, not quite safe to trade anymore

Result: Signal is abandoned after a reverse & possible downtrend because of more breaking news
S&P 500 traded sideways after that, around 1715-1721.75 as the market is uncertain of which way to go
Possible support found @ 1715 but only confirmed after 3pm & it wasn't safe to trade near end of the day especially today

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