S&P 500 ~ Pre-Market Warm-Up ~ 5 July 2012

The futures are already freaking out before various numbers come out, that is EU interest rates, ADP employment change, unemployment claims, and ISM PMI. So we could get an interesting day.

Supports and resistances:

S&P 500 ~ Intraday Update ~ 3 July 2012

No double top at 1366 - the rally continues today. A few minutes ago, the SPX hit the next resistance at 1375. The markets will close in about an hour so this is most likely as high as we go today.

S&P 500 ~ EOD Update ~ 2 July 2012

We got about a 10 handle correction today, which is decent, but atcually I was expecting a bit more. Well, 1366 still hasn't been breached, so we could form a double top at 1366 and then decline tomorrow again. But that's all speculation so let's wait and see where the market opens tomorrow.

S&P 500 ~ Intraday Update 2 ~ 2 July 2012

The pullback should be underway now:

S&P 500 ~ Intraday Update ~ 2 July 2012

As said on Friday, I think we could see a correction at the resistance between 1357-66. Possible targets for a pullback are 1347 and 1335:

As always, I'd like to see some kind of a reversal first (e.g. shooting star, etc.) before going short. Next resistances are at 1375 and then around 1390+/-5