Thursday, April 21, 2011

4/21 12:15

SPX looks to have another pop higher out of a rectangle.  This will bring stock futures close to their highs overnight, which would be a good place to short.  I'm currently on sell signals for DJ 10-minute and NQ 15-minute M/As which won't reverse until DJ futures 12,477 and NQ 2383.75.  Last nights highs are 12,468 and 2,382.75.  Putting a sell order in at DJ June 12,463.  This may not go but if it does it will be a good entry point with at stop at 12,478.
A decline to 1499.60 gets me short gold.

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