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Friday 27 December 2013

Stock Market update

S&P Futures broke above 1836 even before the market opened, which was too soon
Most stocks dropped after the market opened as they're too high
S&P Futures built strong resistance @ 1839 & dropped sharply to 1834, S&P 500 also broke slightly below possible support @ 1840
It will be much more difficult for stocks to go higher today

Trading risk increased, market is bearish for now without any strong supports, avoid trading for now to be safer, unless it rebounds strongly & goes higher

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