Today the market is selling off a bit in the pre-market following a worse than expected jobs report. The key levels we are watching in the SPYs are 114, and 114.30 for Resistance, and 113.60 for support.
Our best AM idea is UPS. Seeing lots of strength on upward guidance in the pre-market. Look for a hold above 60.
2 Comments on “SMB Morning Rundown for January 8, 2010”
how do you use the level 2 to trade the SPY? seems like it’s trading so fast with so much size compared to an individual stock. do you just trade the levels from the charts and not so much the orderflow in the L2?
how do you use the level 2 to trade the SPY? seems like it’s trading so fast with so much size compared to an individual stock. do you just trade the levels from the charts and not so much the orderflow in the L2?