Wednesday, May 28, 2008

Wednesday

Market futures are up one hour before the open. Oil again is on the retreat but I dont really know how far it pulls in. Also remember that this is end of month and we usually have a bullish bias, saying that after this week I think it is going to be hard to keep this market up. Lets see how today plays out. I am looking at first resistance on S&P around 1391 and we might just open there so wait for the first hour to play out to see where they want to take us.

Watch the financials they were up yesterday but ended poorly. If we start to retrace somewhat watch that sector for some intraday shorts

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