Thursday, July 23, 2009

MARKET COMMENTARY (7-23-09)


Nothing has changed. Yesterday was the 2nd attempt at breaking out and closing above the June high. This breakout must occur if the SPX wants to get out of it's neutral 50 pt range. Looking at the 5-day chart, the SPX is still in a sustained ST uptrend. A close-and-break below the lower channel's segment will be an early warning again a 'top'. Otherwise, the market is still trucking along.



1 comment:

Quentin said...

Great trading! Quick question, sorry if you have it answered/posted already. What broker are you using for execution? Are you going for simply lowest price round-trip?