Market Wrap Up: 04/18/12

We have a ripe BEAR FLAG pattern on the SPY daily chart. As long as price does not close above the 20-MA look for a move lower possibly down to the $134.00 level on SPY and $64.75 on QQQ.

Look out for stock symbol: YONG. It's a Chinese small-cap that I hold from $3.17. There is a macro bull pattern on its chart and has a micro bull pattern on the daily chart. We could see a move coming into it tomorrow.

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