Analysis:
The market tests the patience of the Bulls, as it has failed to rise above 1,200. The market also frustrates the Bears, as it has repeatedly offered them intraday profits, only to pare the losses by the close. Today the market pared most of the day's loss to settle slightly lower. Looking ahead to tomorrow, both the Chicago PMI and the Consumer Confidence will boost the market, and the lack of negative news out of Europe will deprive the Bears of any additional ammunition.
Strategy:
Hold long at 1,197
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