James Taulman
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Futures Higher as Market is at Resistance

A pullback in the market from this area of formidable resistance is widely expected.

However, after just two days of declines (on lighter volume, I will add), we have the Dow futures up this morning +70 points.

Not saying we are going to open there, nor close there.

We could negatively reverse.

Just showing that there is no definitive direction, YET.

Yesterday, we had our SHORT trigger as ANAC traded below its TRIGGER PRICE intra-day.

The day before we had a LONG trigger as CRM traded above its TRIGGER PRICE.

Neither with much conviction.

That pretty much sums up this market for me.

Not a lot to do from my perspective and no clear direction.

This will change of course.

So, being patient, and sitting mostly and prudently in cash.