Forex | Forex | Strong Snapback Rally (04/09/2009 11:47:41)

Strong Snapback Rally

The indices had a strong snapback off early losses that held support and at the end burst through 3-day resistance and closed at the session highs going away. The day started out with a slight move higher, and then a sharp pullback that tested yesterday's lows but held right there. A 5-wave advance took the indices to key resistance over the last 3 days. They failed there, rolled over, but held initial key support at 1595 NDX and around 996 SPXm and then rallied sharply in the last hour,


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