Will June End On A Quiet Note?

For me, it was not the type of follow-through day I was hoping for, at least from an HVT standpoint. However, that is not at all unusual after having an extremely volatile day on Wednesday. Yes, there was movement yesterday, just not the short quick spikes I find to be most effective, although by late afternoon volatility picked up a bit. For the most part, it was a quiet session for me.

If we continue to see a relatively tight trading range today, I will need to look at taking some trades off of longer time frames. I have outlined a few below:

Setting a nice bull flag on the 60-minute here with a nice uptrend line from the lows on Wednesday. The 12.00 level has a few moving averages, as well as 62% retracement serving as resistance. If we gap higher today, look for NTAP to test yesterday's highs.

However, after a week that we just had and it being month-end, I just don't see how June will close on a quiet note.

For those of you who took the short sale trade I mentioned in First Data Corp (FDC | Quote | Chart | News | PowerRating) on Monday, it has had a nice run to the downside. If the markets show some serious signs of making a good upside run, do not be afraid to take some money off the table. A quick look at the daily chart will show that FDC is a bit oversold for now as well.

Key Technical Numbers (futures):

As always, feel free to send me your comments and questions. See you in TradersWire.

Dave