Thursday, September 1, 2011

VERY CLOSE

All the major indexes are at key resistance levels. The Nasdaq even reached that major 2600 resistance level. Although there is still a slight chance we could move a bit higher, the stronger probability favors a move lower within the next few days. Gold, silver, and oil all look like they will move down as well. Volume has been very light over the last few days which could be a sign that we are nearing the end of the correction. Normally I might expect the selling to start before we head into the Labor Day weekend, but it could hold off until early next week.

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