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.