Stocks Still Climbing Ahead of Fed Meeting

 @ibtimes on September 23 2009 11:38 AM

Fed day today so things often quiet before announcement. If SPY can stay above 107.37, we have room to the highs of this move. The AMZN bull flag we highlighted yesterday broke higher, and keep your eye on it today for reflex action. Lets see how far it goes. GS continues to be a leader. MS has been strong recently in the financials sector also, but now looks extended and could be a good short. Casinos have been consolidating after last week's move, and it may be time to put them back on the radar as they may resolve these tight ranges. A lot of stocks have broken to new move highs so make sure you are using some longer term charts (Daily and Weekly) to identify levels and formulate trade ideas.

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