Morning Traders,
Alright US closed mixed yesterday somewhat flat-ish. There will be Federal budget balance tonight. the resistance 1408 has yet to be tested on the S&P so we will see what happens tonight. Last two Fridays we rallied right into the end of the week. Would we do the same again this week? Or the opposite? I think it is good to be vigilant and watch price closely.
-------
On the local front, the cash market rallied right into the close and close at 42.52. It actually broke the bear trendline on the cash market chart. However, the futures chart did not confirm and is still trading below its bear trendline.
Being a Friday, I think it is better to be more careful and less adventurous. Either day trade or just sit on the sidelines would be the lower risk options.
Here are your levels for today:
FKLI
Upper Resistance: 1642, 44, 47, 51, 53, 55
Lower Support: 1639, 36, 32, 30, 27
Cash Index
Upper Resistance: 1642, 44, 46, 48
Lower Support: 1640, 38, 35, 33, 30
Trade safe all!
Best Wishes,
Tech Trader
No comments:
Post a Comment