Has the market become a ONE TRICK PONY? Can Apple's performance sustain the WHOLE MARKET?
APPLE must support 423.67 not only today but for the the future. What will the FOMC announce today? Regardless of the answer, the charts will show the way.
The DOW must continue to support 12,559.51. Its overhead resistance continues to be 12,750. If this market trades above this area, then it will become its support level.
The SPX must support 1303.14. Its overhead resistance level is 1325.
I would monitor ALL trades using a 15 minute chart.
Peace, Josie Kelly
Wednesday, January 25, 2012
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