This is a hot market to say the least. Will Mr. Bernanke allow this to slow down. That is the 64 thousand dollar question. We have seen all sectors move up since the first of December 2011. Being trend traders, we often ask ourselves, how long can this last? The old saying is, “the trend is your friend till the end”. I have always answered the question , “how long is a trend?”, with the question, how long is a string? The answer is the same, we don’t know until we see the end of it. We can locate support and resistance areas and make high probability guesses, but that is all it is , a guess until we see the retracement or reversal. I see a strong resistance on the Nasdaq or QQQ at 66.70. If this holds we should see a retracement take place here. If the tech stocks start to reverse they may lead us down at this point. The resistance for the SPY is 141.20 and then 148.44. The DIA or Dow is 132.62 and then 134.80. We are showing massive gains in the forex and futures also.
Take a look at these stocks that we received signals for around the first week of December. These are amazing results from the Wizard’s Pre-Buy signals.
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These are the regional bank stocks that have had significant gains in the last few days.
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There are a lot of changes coming to the Wizard. We will be announcing them very soon.
Successful trading to all and God Bless.
Gene Stunkel
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