We have completed the head and shoulders technical trend but the market has remained resilient and not plummeted like many expected. Luckily, we saw this and went towards the long side. Next level of resistance is 920 on the S&P, that is if earnings and economic reports remain positive. Day traders play the game for the short term score and are loving this, while the long term investor is definitely acting squeamish.

This entry was posted on Tuesday, July 14th, 2009 at 12:06 pm and is filed under Financials. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.