USDCHF - SELL DAY

The USDCHF is on the defensive and threatening to roll-over.

If the MKT is going to continue to work yesterday's aggressive sell posture any rally will reject off the 10828 Inflection Pivot. A rise above this point is expected to be all smoke and mirrors with 10849 or 10872 the high point for the show. Accept sell signals in this zone and leverage up if the MKT provides some good structure to manage the risk. More than 20min above 10872 and the negative signal is negated.

10727 is the support level which the MKT should stabilize off it is going to bounce back into a digestive trade. A failure here has the potential to be the start of something biggerwith 10639 and 10577 the immediate target.

If sentiment is really turning the 10040 area is the extended outlook.

JS

Mid Cap 400 - CORRECTIVE

The JUN’09 MID CAP400 is stuck in a corrective trade and will remain vulnerable to a re-test of yesterday low area at 583.70-583 with all trading below the 596.80 Inflection Pivot.

This is the expected low point for the digestive range if the underlying positive momentum is going to keep pace. A held failure from 583.00 confirms further corrective action targeting 558.30 and 552.10 on any sentiment shift. Expect no follow through at this time.

A rise above the 596.80 Inflection Pivot and the aggressive buying returns targeting new moves highs up to 615.60 and 619.80 initially. 638.70 is the extneded target for any new leg higher.

JS