Wednesday, June 24, 2009

Play for Wednesday, June 24th

Intraday momentum is beginning to look north, and yesterday we found strength in the 4220s.

My plan is still to look for weakness anywhere between the 4270s and 4290s, while we could touch the 4300 resistance as well. The 4230s could be the area off which we bounce.

However, the current quote of 4240s is a the 50% to 61.8% retrace from yesterday's highs to the lows as well: be on the lookout for weakness at this area as well.


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