If the tech stocks start to reverse they may lead us down at this point.

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Currently, the stock market is in a trading range. In layman’s terms, this simply means that the market is moving within a defined price range

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Swiss Surprise? Not for The Wizard

On September 7, 2011 By

“Swiss Franc Plunges Most Ever as Central Bank Draws Line in the Sand.”

Such was the headline this morning from Bloomberg News, after Switzerland’s Central Bank took the absolutely unprecedented step of imposing a ceiling on the exchange rate of the Swiss franc, saying it would defend its rate target with “utmost determination”.

The result?

[...]

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The markets are in turmoil yet again – and people are really worried this time. We’ve seen this before – and we know what happens. Portfolios hemorrhaging money. Retirement accounts collapsing. Nest eggs disintegrating.

The possibility of another 2008-style crash is very real indeed.

And through it all, we here at The Wizard have been [...]

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The unthinkable has indeed come to pass… This week, the U.S. credit rating was downgraded – something nobody thought would EVER happen. And Europe? In absolute turmoil. Greece is going to default. Italy and Spain are up next as the ECB held emergency meetings through the weekend in a last-ditch attempt to craft a bailout [...]

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The first S&P target is 1097 and the second target is 997

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To tell you how amazing The Wizard is, take a look at the following:

The Wizard had a target for the S&P of 1357.00

The high of the S&P was 1371.10

When we entered the long term trade at 1133 our targets were 1278 and 1357.

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This means that you cannot lose money on this trade.

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