Morning Traders,
I think I won't be in time for the open today.. Raining lah.. caused the roads to be very jam.. sorry..
Alright.. US market closed up nicely, S&P has broken the bear trend line at 68, there will be resistance at 74 so we will see what price do when it reaches there.
We have a few major numbers coming out today mainly unemployment claims, Philly Fed Manufacturing Index and Existing Home Sales.
Sooooooo... What's up ahead? That remains the million dollar question.. :)
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Ok back home.. What's in store? The market has opened already.. Cash is at all time high again, futures opened at 50, made a high of 51, and pulled back to a low of 46 and it is now trading at 46.50-47.
Personally, I think if these support holds, I think the move is upside. A strong market will remain strong until a conditional change occurs. So watch your levels and trade carefully.
Here are the levels for today:
FKLI
Upper Resistance: 1648, 50, 53, 55, 58
Lower Support: 1643, 40, 38, 36
Cash Index
Upper Resistance: 1647, 49, 51, 53, 55
Lower Support: 1642, 40, 37, 33
Trade safe all!
Best Wishes,
Tech Trader
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