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S&P’s are in a tight range primed for a breakout

Jul 23

Written by: dpavlatos
7/23/2009 7:03 AM

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The S&Ps have tested both sides of resistance and support in the last 3 days and never penetrated either

one. We have a bit of a rising wedge with the upside resistance at 960 and the downside at 947. We can

chop around until we have some confirmed penetration of these levels. Earnings continue through next

week and volume is low. This makes for a choppy environment so be patient until there is a better sign

of direction. 

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About Damon
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Damon Pavlatos’s 25 years of multi-faceted industry experience includes the following: Since 1978 he has held Exchange Memberships on the CME, CBOT and Mid America Exchange. He has traded Futures and Options for 20 years specializing in Index Futures.

From 1981 to 2000, Damon managed the CME Index and Floor operations for Shearson American Express, L.I.T. America, Gerald Inc. and Rand Financials. During his many years in the industry Damon has supplied Technical Market Analysis for various Index Funds, Institutions, and Exchange Members and has been featured at Tradeshows, Futures Seminars and in various trading books.

In 2000 Damon became a Principal Partner of FuturePath Trading LLC® and PhotonTrader.

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