Equity Oracle: 08/12/2011

The long legged Doji seen on the weekly chart for SPY tells us the sellers are running against some buying pressure at this level. The 200-week moving average will most likely act as a support level but we have to remain cautious as we work our way back up to resistance. It looks as though this could be our chance to enter back into the market for a short term play.

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As a premier trading consultant, AJ is one of the most sought after in his field. He teaches professionals specialized techniques on how to accumulate and protect wealth through innovative market techniques. TheMarke__404+

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