Good Morning.
The S&P 500 futures are indicated to open 10.5 points higher.
The NASDAQ is indicated to open 22 points higher.
After yesterdays wild ride, we will see today if the market can continue its upward bias.
The probabilities seem to favor it, however, given the current state of the market we need
to stay alert on the short side for those reversal opportunities like we saw yesterday.
So far the Globex S&P futures have been turned away by resistance at 1363-1363.50
A solid break of that level should send us even higher as this is the top end of the Value Area.
The Two Main Pivot Action Points Today are:
Buy - 1338.70/1339.70
Sell - 1362.00/1361.00
I will be posting both the opening range as well as the 1st hours range as they are calculated.
Lets have a great day trading and USE THOSE STOPS!!
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