S&P 500 Index Consolidating
Stock-Markets / Stock Index Trading Jun 18, 2009 - 01:41 PM GMTBy: Mike_Paulenoff
From an intraday perspective the S&P 500 emini futures contract appears to be consolidating or triangulating around the 912 level, ahead of one more pop that projects to 920-922 prior to a resumption of the dominant near-term downtrend. Such is my preferred scenario for the recovery bounce off of yesterday’s low at 899.25 – levels that ETF traders of the SPY and SDS may want to keep an eye on.
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By Mike Paulenoff
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