SMB Morning Rundown – May 04, 2010

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Today, the Market appears set to open lower. The levels we are watching in the SPY are 120.75(res) and 119.00(sup). Above 120.75, the next resistance levels are 121.50 and 122.00. Below 119.00, the next support levels are 118.50 and 117.50.

Our best AM Idea for today, which we highlighted in our AM Meeting is to short AFL below 50.80. Target: 49.75

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