Wednesday, July 18, 2012

Trade Guideline For Thursday

A typical breakout and trend-up day on Wednesday with a close near the day high. The trend-up should continue to the next resistance level, 2655 -  2660 area as long as it can stay above 2625. Below 2625 implies it it is going into consolidation with support at 2600, 2590, 2585.

IMF warned the eurozone is in critical danger, urging the European Central bank to turn on the printing press. QE is bullish for the equity market.