Monday, July 20, 2009

SP500 - Looking for Love

The SP500 is working higher and remains in an aggressive buy break posture above the 921.00 Inflection Pivot.




This is the low point for any weakness if the positive momentum is going to keep pace targeting 962.50 on any new interest. Be patient. A reaction is expected. 962.50 is a big resistance pivot with the potential to reject the Index back into a big digestive trade. A violation here confirms a fresh leg higher targeting 1006.75.


A break under 921.00 puts the contract back in a difficult digestive trade with 971.00 the low point for the new consolidation.


JS

This post supports JS Services Strategy Based Trading approach. For more information please contact me at info@jsservices.com. You can also visit http://www.jsservices.com/.The Inflection Pivot levels are available as a chart overlay on the following platforms; Ninja trader, Strategy Runner and eSignal. Sign up for a Complimentary Trial.

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