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June 9th, 2010: Update 3 – Intra-day Mid-Day

Posted by pugsma on June 9, 2010

12:37am EST:  This is where it gets interesting.  The bulls have moved the ball back to mid-field (1070/1080 area) and are driving for the bears endzone at 1105 to induce an intermediate trend-change to up.    Can the bears defense step up and stop them?  They bears want to get across the bulls endzone of 1040 to confirm the intermediate down trend has more room to run.  I’m expecting some consolation in the 1070 to 1080 band before the bulls make another run at breaking the down trendline at 1080.  The bears are going to try push this back under the 1070 level and close it back under 1060.  Should make for an interesting afternoon.

SP-500 15-min Chart (12:30am):

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