Morning Updates - 12th July 2012

Morning Traders,

Alright I will keep this brief.

Us market closed down moderately. Tonight we have unemployment claims. S&P is still trading at 1336 support.

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Alright.. unbelievable as it may seem, the party goes on!

We made a new high yesterday again. There is just no fighting this market. If I'm not mistaken, the volume on the cash market also uncreased right?

I think we should continue to have the upside mentality until we have a conditional change.

That means I will keep buying the dips until it doesn't work any more, and then I will reverse.

As for today, I will see if support holds near 30 or not. If yes, then I will go long. I will have my stops in place if it decides to reverse today. Trade safe.

Here are your levels.

FKLI

Upper Resistance: 1636, 38, 41, 43
Lower support: 1630, 26, 22, 20

Cash Index

Upper Resistance: 1632, 35, 38
Lower Support: 1628, 25, 20

Trade safe all!

Best Wishes,
Tech Trader