Quick look at the intraday action and the resistance level that I am ‘eye-ballin’ across the board in XLF and major indices. I’ve bought some TNA this morning, which I may come to later regret – but as you can see from the resistance we are trying to push through below, I think there is a good chance we move higher today. But definitely be aware of the kind of trading that we’ve seen recently on Friday’s where the bulls tend to get the jitters heading into the weekend – I think that is a real possibility for today as well, and as a result, won’t be risking anything into the close – my plan is to be cash well before then.
SPDRs S&P 500 (SPY)
PowerShares QQQ
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