Wednesday, August 25, 2010

S&P Breaks Back Above Yesterday's Settlement

We filled yesterday's gap and markets are accelerating to the upside now. We should see resistance come in at 1055 to 1057. Looks like the reversal tail that we saw this morning will play out the way yesterday's tail should have. If we blast through yesterday's mid-day high at 1057, then 1060-1062 (ES) should be a safe place to make a short play.
Posted by Verde at 2:44 PM
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1 comment:

  1. VerdeAugust 25, 2010 at 3:50 PM

    I wouldn't short anything now at this time of day, even if we somehow did move up to 1060-1062

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