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Friday, July 29, 2011

Friday Wrap Up

T.G.I.F

STI has been bullish for the past two weeks. We are just beneath 3200 level now. Since today is Friday, I have few levels to look at for today to see how the weekly candlestick to close.

The "middle point" is 3175 of the whole week range. I'm bullish if close above it, and bearish if close below it. And Bullisher if above 3181, bearisher if below 3169.

I'm a little bit cautious as the US debt ceiling is like a bone in the throat, it can flip to the opposite direction wildly. I'm going to take small position and be nimble in order not to get caught.

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