Monday, May 23, 2011

S&P 500 ~ Intraday Update ~ 23 May 2011

The market is quite tricky at the moment - one day it's up huge and then the other day down again.

The SPX/ES keeps making lower lows and lower highs so short term the trend is still down:

We're at the lower end of the channel so we may get a bounce here.

Support areas are at 1313ish (gap), 1300ish and then 1260ish.