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| California |
S&P futures bulls kept the pressure on all day after a quick 5 point dip off the cash open. Last minute month end / quarter end action pushed it up to close about 1358... which is a point higher than the high from last week. Naz futures played some catch up after under-performing the last few days and Russell futures are firmly above the 785 area that a lot of traders were watching (currently trading about 797ish).
Overall, it appears the bulls are firmly in control again.... although they still have some tough resistance above. You can see on the chart below that the SPX has a high volume zone from 1360-1370... and then again at 1398-1408. The bulls have created V-shaped recoveries before by working on the futures at night in order to gap it up and over high volume zones... so I'll be keeping an eye out for that next week.
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| SPX Daily |
You can see where my priorities are on a Friday afternoon by the size of these post images... :-) I am going to zone out on that California picture for a bit and try to decompress after a wild week. I hope everyone has a safe and happy weekend!
