The markets go up the markets go down, they hit resistance and they fall, they fall to support and they bounce. Yesterday they it hit resistance and today it fell.
Easy stuff right? How do we trade this stuff then?
On tonights call we're going to talk about a PAPER TRADE on the RUT to take advantage of some of this see-saw action we're seeing.
As for the SPX, my bias is for it to remain in the green channel and as long as it does the trend is a slow grind up to 100MA.
SPX Daily Chart:
Thursday, August 7, 2008
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