Opening Play for Friday 7/11

7-10-2014 9-53-46 PMCommentary:

Good Morning Trader!

Russell tested key support – after multiple high to low days it should retest back up towards the 5 SMA.  The market already rallied well up off its lows, so overall upside should be limited on Friday.  Main pivot for SPs is 1968.25 – Thursdays high.

Bonds –  Turtle Soup type of sell – 4 days low to high…retrace back down towards the daily 5 SMA.   There are momentum sell divergences on the 240 minute time frame  so can watch that EMA as well.

COWS –  came off a rising wedge –  any further push down should find support and lead to partial retest back up.

CD – still has powerbuy structure –  good chance for put to new 20 day highs.

Have a great day!


Tradesheet from Snagit


Markets in Breakout Mode for Friday:

BOs from snagit