John Pisanchik

The market opened strong and held it’s gains nicely. It closed on Friday right on the bottom of the trading range and this action is very positive. However, we are still in that overall trading range of 885 on the bottom and 935 on the top. Getting support at the level we were at means the market is not taking this lower for now. Today we may get some follow through. The Cash S&P closed at 910.33 and we have that envelope of resistance between 910 and 935. So if the trading range will be holding in today, expect a choppy session. There is nothing going on that would make me think that we will break out of this range today. So my expectation is a choppy session to possibly higher, but within the range. Happy Trading.

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