Day Trading – The Bullz And Bearz

S&P Support and/or Resistance – No Man’s Land

June 26th, 2009

The more I look at the chart of the S&P and DOW the more I realize we are still in no man’s land right now. Either the markets will move up slightly today and reach some VERY solid resistance, or they will move down to support which is close by. Easier said than done right – I mean it’s easy to say that we are going either up or down right? So here’s my thoughts for today —> I say we rally after the open and hit somewhere around 925, then the longs start selling off positions into the weekend. Here are the major levels to watch on the S&P.

 

 

SDS – the ultra short S&P 500 looks like a good play from here for the next couple of weeks. Good volume yesterday too. May want to wait for the mid-day rally to peak before jumping into this one.

 

 

PRGO – I’m sure you can guess what I’m thinking for this gem, but I’ll try and let you decide for once. Look at this resistance!

 

Comments are closed.