Friday, August 3, 2012

Market Update

Initial fade off the overnight highs didn't go very far, and then we walked it back up to the ISM Number. SO far, the release is providing more of a flutter than anything so we'll see if the Bulls want to make it a trend day or not.

1387.50 is a big number, it's not only Monday's high, but the best level we have seen in a number of months.

We could rotate down before that number, to give the super aggressive Bulls fits, but for now, we are holding steady here as we decide where we want to go.  If we get the 87.50s, do we double top it there or rip it through and head for the blue skies?

As I finish this up we are now only a few ticks off those highs


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