Wednesday, June 3, 2009

Market check

Well it's been an exhausting two days and I've not been paying a great deal of attention to the markets. I don't have any new charts for now, but might do a couple later to further check the critical S&P, as well as AAPL and SLB. Just looking at prices though, AAPL is still holding well, but momentum has slowed. It should still see 145+ at some point soon, technically. SLB held okay yesterday, but is slumping today. I haven't checked crude, but I can guess it's pulling back some without even looking. If SLB holds 56.66, then the long is still in play. Today's close below that suggests I was wrong (but hey it happens). As for the S&P, we should still have support around 920, but as for the breakout above 945, well it just hasn't happened, so for now 920-945 is the area I would anticipate holding. We'll have to see if there is an end of day rally today to push back up towards break even and that ever important resistance area.

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