Pattern of higher lows confirmed together with clear break of 1294. 200 day ema held. It's all bulls for today.
June 30, 2011
June 29, 2011
Overnight highs can't hold; S&P Futures key levels 1301 1288 ▲
First move over 1300 in three weeks. Expect some consolidation before level fails or breaks.
June 28, 2011
Successfull low test; S&P Futures key levels 1283.25 1270.25 ▲
Bounce off 1257 gets us back into upper range. 1294 - 1300 still looks tough to break.
June 27, 2011
Rally fizzled - new lows coming?; S&P Futures key levels 1270.25 1257.25 ▼
There was a lot of talk among the bulls that the rally off 1257 on Thursday marked the end of the bear leg of a bull market. Than Friday happened - not hearing much from them now.
June 24, 2011
Don't like this news driven rally; S&P Futures key levels 1283.75 1270.75 ▲
Last big news rally was the OBL raid that market the swing high for this move.
June 23, 2011
Rally Exhausted; S&P Futures key levels 1286 1273 ▼
Bear resumes, look for low test.
June 22, 2011
Look for response to FOMC rate decision; S&P Futures key levels 1293.75 1280.5 ▲
Fed may be putting a lid on this rally.
June 21, 2011
Rally continues; S&P Futures key levels 1279.5 1266.75. ▲
This market is going to test some big levels now. Not necessarily trend resumption long, but certainly the hold at the 200 ema is giving the bulls some ammo.
June 20, 2011
200 day ema holding; S&P Futures key levels 1272.5 1259.5 ▲
Market needs to lick it's wounds a bit before any sustained rally.
June 17, 2011
Possible rally off 200 day ema; S&P Futures key levels 1270 1257.25 ▲
Daily S&P looks ready for a bounce, than we'll see where it goes.