This post will be pretty brief but I believe it will say alot. Resistance at $132.50. That is all I need to say. We havn't moved the needle this week except for on Monday and I kept thinking ok the rally is coming but every day since $132.50 has put a lid on the rally and with some positive news that Europe is saying that Greek will possibly stay in the EU your guess is as good as mine as to what headline will come out tomorrow or next week. I know this whatever headline comes out over the weekend or even tomorrow will whipsaw the market. My stance is to stay bearish on things trading volume is light this week and again the rally has lacked conviction. If the news from Greece is bad next week. There are plenty of stocks to trade from that are going to sink as soon as that news does come out. See my article on stocks with
Bearish Flag Patterns.
My guess is we will be slightly positive on the S&P 500 going into tomorrow afternoon but if we can't get above $132.50 that would signal bearish things to me.
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not be construed as personalized advice as it does
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