TGIF!

June 26, 2015
By Vlad Karpel

We have seen this week just how indecisive the market can be and it is just not ready to resume any trend either to the up or down side.

The S&P 500 ($SPY) could not hold breakout support, $210.5, so the upside challenge of $212 has failed. The range in the S&Ps is starting to narrow so expect choppy trade to continue until we get some sort of catalyst.

Tech ($QQQ) has now pulled back to short-term support, $110. A break here in the $QQQ would signal a challenge of longer-term support of $107.5.

Finally, Bonds ($TLT) have traded off the recent lows, $115.50. If bond bulls have any chance for upside price action the $121 level will have to be broken.

Well, back to watching paint dry… Have a good trading day and weekend.


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