Thursday, June 25, 2009

June 25 2009 Morning Prep


Good morning. Here is the delayed morning prep. There is major support below the market at 874. Price keeps finding minor support on the way down there.

I am anticipating a test of the 874 area. We could see a range for today 886.75-907. I will be looking for trades off these areas. If 904-907 area gets tested and fails, there will likely be an extension attempt to the downside.

If the overnight low around 890 holds, look for an extension attempt through the 907 area. This is a tough area. I am only looking for the prime setups off the tops and bottoms of my zones.

Good luck today.

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