June 28, 2013 Market Action

Today the market opened up at the 1601 support level
but could not keep above for very long. A Run down
to the 1595.00 support turned the market back up
and through the 1601 support which was now resistance.
since that level broke it acted like support which
setup a nice long trade to the 1606 resistance area
where the market hesitated a bit. The was broken and
the market ran up to 1610.00 . That acted like a lid
on the market all day. The market really stayed between
the 1602 area and 1610 area pretty much the rest of
the day until the last half hour when the 1610 zone
was rejected for the last time and the market came
down reall fast to the 1595.00 zone again.

As you can see from the chart below , the support and
resistance zones really framed the market well today
and by having these lines on your chart you would
be able to take advantage of the opportunities available, but
you need to know the setups and the how to trade them.