Tuesday, July 06, 2010

Market Talk

As we posted this afternoon on our StockTwits acct the market reversed in front of resistance.  That's the new range  that now has to be broken.   The two following lines on the SPY chart are the short-term support and resistance that needs to be on your screens.  We're not doing much with stocks these days -- mostly trading ETFs until we feel there's a better edge in the market. 

It's summer.  Get out there, enjoy yourself, take some time off.   If you want/have to be in front of your screens, then stay smart.  Don't chase market up or down -- this is typical range-bound market where resistance is shorted and support is bought.    Stay cool and loose.