11 June 2013

SP 500 and NDX Futures Daily Charts - Rampus Interruptus

The central bank of Japan gave the world the jitters overnight in their decision on how to proceed with their own version of QE.

The attempt to rally stocks back up off the lows was not successful and the rally faded into the close.

There is a short term downtrend here that has not yet been broken. It is going to be caught between the downtrend and support between 1640 and 1615 on the June futures, which will be rolling over to the next front month of September later this week.