The S&P 500 is currently trading +11.00 points higher with premium factored in.
The action of yesterday was a bit harder to the downside then I had anticipated, but it also should allow the market to tip its hand today as to the validity of the intermediate term low at 1435. Take a look at the Trend Analysis LLC blog for the latest intermediate term forecast.
This morning we may have a fade opportunity at the open as I am sure there are plenty of short term traders who after yesterday, want to sell into the face of higher prices.
Of course we will only know real time if a fade near the open will be the prudent thing to do.
I will also be posting the Opening Range numbers once they become available.
I will be trading until about 11:30am today and then taking care of some business, but I should be back in time for the 2:00pm to close activity.
Lets get in there today and make some money!!
Good Luck To All!
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