28 Jun 2013

Reaction day was a dud.  We did close the month with a red candle so that has some significance, since we haven't see that since Oct 2012.  The week closed with a reversal candle and we have not manage to close that gap around the 1630 area of the SPX.  Now it is not necessary to fill a gap but one must be aware of it as a possibility that prices will revisit that level.

Mid-Term:  DOWN
Short-Term: UP