Tuesday 8/26 ... Approaching Yesterday's Floor

By: Matthew Graham
Once we crested the 100-17/100-18 level yesterday, we held it for the whole day.  Currently, we are at 100-19 and have fallen from 100-24 at the open.  If we cross the line at 100-17, it would be a lock indication for anyone who doesn't want to take a change on a turn around after all of today's economic data.  A bullish Case-Shiller and/or OFHEO could exacerbate the situation.  So for the skittish, get those locks ready.