Friday, August 15, 2008

Friday Intraday Psychology

Good Friday Morning,
Oil dropped several dollars this week and the market faded the move. If oil were to spike up next week it would have no effect on the consumer, but the psychological affects on the market could be significant and we look for the 1,250 gap to be filled on the S&P. If that happens it will present a swing trade opportunity for longs. Watch the S&P in to the close today and prepare to buy should it close the gap next week.

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