As I said yesterday, a failure to get below 1258 would be bullish. If you were a trader, it was. From the 1263 area the S&P rallied over 20 points. That's a nice move. But if it's to continue, 1298 must be exceeded. 1302 must be exceeded. And ideally 1311.43 (IB data), the low of the 25th, should be exceeded. So there's a lot of work ahead.
It's a summer Friday in the middle of a wide range. I'm not expecting a lot today.
There are reports this morning that trading in some Italian banks has been halted. In relation to the ongoing train wreck in Greece, this is not good news. I'm a bit surprised. I thought the first shoe to drop would be a French bank. But it's not over yet.
I had the last of my mercury fillings replaced yesterday, something I'm incredibly happy about. Yet there's a lot of work ahead for me, too. Now I have to get the rest of it out of my body -- a long, slow process. But I can tell already the dividends will be great.
This weekend I leave Austin and head back up North. It's been a great sojourn here. It'll be great to get home, too.
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