Friday, July 24, 2009

PreMarket Review 07/24/09




Consumer Sentiment at 955 ET is the only economic report today.
We are still in a bull cycle as long as the market keeps making higher lows. Strong support is at 957 with weaker support at the overnight low of 963. 976.5 is the current resistance. Next week is typcially a bullish week.
The market longer term may see resistance in the 1044 to 1000 area. I would not be surprised if we see the market test this area next week.
Charles

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