A very slow and unproductive day, until the last hour of course. As pathetic as it sounds, I actually spent part of my day creating widgets for my twitter and facebook pages (and I don't even use twitter!! though after spending half the day on there I may start to).
The late day pop, felt way too predictable. We chopped around S1 and previous support given to us from previous highs on May 7th and 8th.
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Price is loving that consolidation range between $94.5 & $95.
TICK confirmed the downside pressure (as well as overwhelming Declining issues vs. Advancing), though the test of the lows didn't bring price below our support level. Later during the day we saw some very bearish TICK activity, though price wasn't falling ("the ship ain't sinking").
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I was very pleased at the First Cross long entry I got today. It was the first
valid entry since the 4th of June.
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