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Wednesday, August 26, 2009

The BAC Wedge of Death?

Just thinking more about financials. Decided to look at the BAC chart ... yikes.

Major wedge terminating right in the smack-dab center of major resistance. Will it overshoot the wedge? Does it make a break for 38% retrace ($20.19)?

This is another canary in the coal mine. And how it negotiates this resistance (or if it doesn't) will be very telling.

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