Intraday Commentary – 6/16/10

Time posted: 12:50pm UTC

As stated yesterday, our longer term targets, if the uptrend holds is 1123.75.

We are seeing a pullback during the lunch hour that could see 1109 or 1104-1106 range act as support. The resumption of uptrend will be confirmed by a strong break of res around 1112.75. Interim targets are 1114.75 and 1118.5

See Comments for actual trade exit recommendation times and points

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Comments (3)

Target-1 of 1114.75was hit after 14:03 EST.

Awaiting trigger from pullback for re-entry, if we get it

If support isn’t found around the 1105-1106 zone then 1100 is the downside target. res is around 1109

Unfortunately, we missed the trades in the morning session that would have yielded an additional 10 points of profit. Let’s see what tomorrow brings.

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