Thursday, July 2, 2009

Massive resistance was hit in my target range of 930-940

We hit 932 yesterday and now we are almost at 900 already, all it takes is a few hours for sentiment to change in this market.

I said once we hit the upper target we would go back down and test 900 once again, hopefully you shorted a 920 and you can cover now if you want or just hold for lower levels.

893 will be tested and most likely that will break and 888 will come next, later on down the road will will test under 800, not expecting this until a few months down the road.

We are still range bound until 882 breaks with force.