April 29, 2013 market action

Today the market opened up above the initial resistance at 1578.50 and into the 1582. A hold above the 1578.50 level was a clue that the market was more bullish then bearish. The market then made its way to the 1588 area and stalled for about an hour before breaking out. A retest of that level was bought and a run to the 1592.50 resistance level followed. The market backed off from there back down to the 1588 area where a bounce failed and set up a good shorting opportunity. The nightly updated numbers continue to frame the market well and provide at least 2-3 opportunities to make some decent trades. Don't miss out on these great trades. Sign up today for the nightly newsletter and get the ebook to learn how to trade around these levels.