Tuesday, August 2, 2011

S&P 500 ~ Intraday Update 1 ~ 2 August 2011

I wished I could have traded yesterday... The SPX gapped up right into the resistance at 1304 and then declined  30 handles within just a few minutes... But I hope you did well : )

As mentioned yesterday the next important support area below 1280 is 1260ish (+/- a few handles). The SPX hit this area twice earlier this year and both times we got a huge rally afterwards.