Thursday, June 11, 2009

06.11.09 - Looking for a Breakout

Hope I haven't 'jinxed' it with that title, but this further consolidation on positive internals above the VWAP and fairly good news flow has me looking for a potential breakout above of the nine-day trading range during this afternoon's trade. The biggest risk to that scenario will be the reaction to the 30-year auction results, due out presently. Thus far, the SPX 950 level has certainly proven strong resistance.

1:30pm Update: Nice markup underway!

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