Tuesday, June 26, 2012

S&P Morning Update for June 26, 2012





Overnnite (O/N) Trade is contained within y'days range but occurred almost entirely above y'days Settle/Close. There was no follow thru to the downside in the overnite session. An ideal short would be for a failure above the O/N High. Price acceptance above the O/N high brings the Gap above into focus. An ideal long would be a failure to find acceptance below the 1298-1300 level. Y'days POC was very prominent. Any Opening away from the POC may bring Price back to tag the POC.

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