Tuesday, July 27, 2010

Market Continues to Show Strength

Resistance at 1118-1119 and 1127-1129
Support at 1110-1111.50 (Gap Fill from this morning)

Taking a long here at 1110.25 (ES)
Looking for move back up to at least 1117

1110 is a significant level. We need to hold support here. Closing below 1110 will be negative for the markets while closing above 1110, as we did yesterday, will support the notion of market strength. I expect strength to continue.

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