Tuesday, June 15, 2010

So Far Monday & Tuesday are Identical

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I can't tell what day it is, thus far today and yesterday have been identical sessions.  A 0.8% spike in the S&P 500 in premarket (both days originating from almost the exact same spot), taking the S&P 500 to 1100 in the opening hour.  This is mild resistance.  Then a jump over 1100 as the market grinds higher in the 2nd hour.

From here, yesterday we spiked to S&P 1108 (200 day simple moving average) stayed over 1100 for most of the mid day period, and then reversed hard back down in the closing hour.  It would be too cute for this to happen 2 days in a row so my useless speculation of the day is we at close at day's highs and there is no drama in the closing moments.  (this of course would allow for a break over 1108 in tomorrow's premarket)

But the similarity of yesterday and today thus far is uncanny - almost carbon copies.

Real or Memorex?



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