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The Bias Should be Positive Early

April 28, 2008 10:10 AM

We would have to get under 1394 early to cause problems it appears. We have a reversal off the opening high of 1401.50. If we get over that, we should push higher. 2 Day Fed meeting starts tomorrow….this could be slowwwwww today…

Written by Tom@StockBlade.com · Filed Under SP Futures 

Comments

7 Responses to “The Bias Should be Positive Early”

  1. Tom@StockBlade.com on April 28th, 2008 10:14 am

    Ok, it chalenged the high already…backed off 1401.25….Checkdowns are likely to hold here…it looks like we will take out the high and push this higher here….but im avoiding the high until we take it out…

  2. Tom@StockBlade.com on April 28th, 2008 10:27 am

    Backed off the high again….this still “feels” like it wants to take it out and make a push…we will see…

  3. Tom@StockBlade.com on April 28th, 2008 10:33 am

    Ok, took it out…we should push higher here i believe….

  4. Tom@StockBlade.com on April 28th, 2008 10:41 am

    hmmmm…sloowwwww trading….only went to 1402.75 once 1401.75 cleared… no conviction…we would have to get under 1399.50 to get me concerned here….if we cant get under that, we should make a new high

  5. Tom@StockBlade.com on April 28th, 2008 10:52 am

    The longer term charts appear a bit extended, that seems to be the only issue here….we never made a reversal off any high…at least the type I look for….so not sure where the weakness is coming from… but finishing 11:00 below 1399.50 may cause problems…

  6. Tom@StockBlade.com on April 28th, 2008 11:22 am

    Hmm…okkk…this weakness took me by surprise….the low is likely to hold here…. If it doesnt, then not sure where we are headed…

  7. Tom@StockBlade.com on April 28th, 2008 11:24 am

    We do need to finish the day positive…fed coming up Tueday and Wednesday….my hunch is the big players wont make huge bets until after the fed decision….

    I am done with the futures for today…good luck …

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