It took a while to get going but the 7350 long finally made it up to 7380 for a nice gain. The bears took it down again from there at the end of the day, and the 7380 area really is being a stubborn one for the bulls to break. The S&P just missed the 2421 long order which was frustrating as it bounced just above that to hit 2430. Can't win them all! It was a bit of a low volume treading water sort of day, as even the end of day shorts didn't really do that much, as investors await earnings from some of the big hitters later this week.
FTSE 100: I have a feeling that today might well be the day that we see the 7405 level that has been resistance for a while now. All depends if the bulls can push past 7385 though. We also have the top of the Raff channels at 7420 area, so if they push a bit higher then this level looks a good spot for a short. There might be a fair few bears waiting at 7405 though so it might struggle to get that high. We shall see.
