Thursday, August 16, 2012

Intraday update

S&P Futures 30min
S&P futures bulls are pushing up towards the highs from a few days ago (1409ish). Gold and the Euro are back on the move. Gold is having some trouble at 1620 again. Treasury futures sold down in the night session and have bounced back up to about break even on the day. I just started 1/4th of a swing short position in Naz futures at 2758 and will be building out the rest of that position today and tomorrow. I'm looking for tech to take a breather over the next few weeks. Intraday volume on S&P futures is suggesting an 8-10point range today. The low of the day session is about 1402... so that puts a high target area of 1410-1412 (1412-1414 on SPX). As I am typing the bulls are pushing into the high target area here at 1410.