We have a rising wedge forming in the markets

Tuesday, June 17, 2008

Taking profits in this gap up this morning. looking to add

INSP
SIGM
NVDA


looking at VLO and TSO

The S&P 500 ended higher for the third session in a row on Monday and is currently poised for a firmer start to the day today (although off premarket highs). The important short term levels are at 1370/1373 (May 27, June 03 lows) and the decline 50 day averages (also approximates a declining upper channel line).