Monday, April 13, 2009

S&P Update

Barely touched the upper trendline today and quickly faded. After hours action is weak. Maybe I did manage to pick a top with FAZ, will look for XLF to hit price targets this week if market continues to be weak. There is always the probability we gap up tomorrow from news, if that is the case, I will cut my losses if the market shows strength after the open. If a gap up is followed by strong or even slight weakness, I will add to FAZ.