Sunday, February 12, 2012

Gap up ahead of monday

Its Sunday evening and the Greeks have passed the austerity vote and is positive in the futures trading at this time.  The gap up takes us above friday's trading range.  The chart shows friday's drop down in price action; and the highlighted circle shows where we will likely open up on monday.
                                                                                                      click chart to view
It will be important to watch the price action in the 1345 - 1355 area for signs of strength.  This would also be a likely area to see a rollover in the market.  Especially if we fail to get over the 1350 level.

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