Allright so we got the bounce and then we turned down. The S&P tested the last low and now has bounced. So what now? Well I am personally anticipating a trading range market for the next few weeks that is defined by the high from 6/2/02 and the low from 6/14. What does that mean for trading? Positionaly I believe a balanced approach with both long and short positions is called for. In a range bound market you have to be able to go either direction and sometimes both at the same time. Once this range is broken decisively I believe it will be time to see a decent trend in the market.
Craig Russell
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