Monday, July 16, 2012

Overnight range lows tested

We are testing the overnight lows here about 70 minutes ahead of the open in US equities

We aren't down much, but after the big day Friday, I am surprised we didn't at least try to test up to the highs sometime overnight. We've haven't been above the highs of the open Sunday night.

I'm watching for morning digestion, and early weakness would have me looking for at least a gap fill, if not a full retest back up to Friday's highs.  Of course, as always, confirmation is key.

Have a great day


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