Trading Plan for June 22, 2010
Trades:
No trades were placed today.


Positions:
Day trade – None

A wild day in the market, the bulls had control from the get-go Sunday evening and it looked as if they would cause some damage to the bears. We were hoping that we could get a final push to the 1132-1134 area to initiate our short position, unfortunately the high was hit at 1129.50 in the overnight session. The market then sold off and went negative. We were surprised to see 1109 fail so easily, but the bulls were able to hold the 1102 support zone and actually close the market above 1109. We typically would say that nothing technically changed because the market closed flat, but in this instance we have to respect that the market may of tested the resistance zone at 1130-1132, even though it never hit the actual level.


So going into tomorrow is anyone’s guess, we potentially reversed off strong resistance area (bearish), but we were able to close above and we are currently trading above 1109 (bullish). We will leave our levels the same and see how the market opens tomorrow.

Economic Reports:

Tuesday, 22-June-2010
07:45 AM
ICSC-Goldman Store Sales
08:55 AM
Redbook
10:00 AM
Existing Home Sales
10:00 AM
FHFA House Price Index
11:30 AM
4-Week Bill Auction
01:00 PM
2-Yr Note Auction

Please find all trading levels below…


Daily Ranges- Day trade and Swing trade Alerts :
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