Morning Traders,
How are you all doing?
Alright the choppiness continues! We have expected this week to be a sideways and choppy market and it has been so far. If you haven't read our weekend updates, you can click here.
The US market closed down slightly. The question I have in my mind is that, are we going to continue to go sideways from today right into the weekend? If we can guess this question right, then we can position ourself to take advantage of the upcoming events.
I am thinking of further sideways to a possible downside. What do you think?
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The local market has been choppy and a junk to trade this week. Market is just trading within a small range so far but cash could not break the 80s level yet.
I don't know about you. With the Greece election coming up soon, I think things favor a sideways to a downside market for this coming two days.
But we need to break the 65 level for the FKLI and the 70 level for cash as both of this support will hold this market up if we can't break it.
But if we break those levels, then I think a nice down swing could be in the cards.
As for today, I am looking to maybe just day trade or maybe even hold a short and close my eyes.
We will see how we opens later.
Here are your levels for today:
FKLI
Upper Resistance: 1575, 1577, 1580, 1583
Lower Support: 1569, 1567, 1565, 1560, 1558
Cash Index
Upper Resistance: 1580, 1582, 1584
Lower Support: 1573, 1570, 1566, 1563
Trade safe everyone.
Best Wishes,
Tech Trader
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