The S&P 500 is giving clear indication of a sharply lower opening in the area of -12.90 with premium levels factored in.
The main culprit behind the decline today was the unemployment report and typically reports of this stature tend to have not only an effect on the opening, but set the tone for the entire day.
We also are relatively confident of selling strength given the intermediate term picture that has been discussed on the other blog.
So, in a nut shell, lets look for places to sell short and utilize the pivot points as well.
Look also to the opening range for a potential trade.
Take it as it comes and lets stay focused and alert and make some money today.
Good Luck
Friday, January 4, 2008
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