Noted this would happen last night and to be careful. Same exact thing happen last earnings season with Microsoft, they gapped us up huge and sold us off. I guess it is now officially a trend!!
Next week should be interesting with the FED meeting. I doubt they sell us off into the meeting but after the meeting no doubt that the bias should be down based on this week action.
have a great weekend
Friday, January 25, 2008
Mid Day
Well we went right to that 1372 area around 1370.75 in the first 5 minutes of trading and wham resistance. Right now we are at 1347 so that resistance worked like a charm. Very choppy day today so far. I guess the best play would have been to short the S&P in that first 5 minutes.
Friday
Futures are up huge this morning on Microsoft and Caterpillar's earnings. Some resistance should show up on the S&P around 1372 which is over the overnight highs. I would be looking to short at this range value. Beyond that watch for resistance at 1480 if we get there
Good Luck today
Good Luck today
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