Friday’s trade provided a little weakness and was extended in the light Holiday trade on Monday. Go into expectations and the upcoming trend that may continue and “rhyme” with the happenings in 2008 as well as other potential outcomes — but this week and next are going to provide some valuable insight as the the early summer action. The declines from the high’s last week ($9.40) down to the low on Friday ($8.285) have already met the average spread surround the Holiday period and with the market opening lower late Monday night– perhaps the Holiday related low has not yet been achieved. Continue to expect market volatility in the upcoming week and would be keeping trade horizons short as recommended for nearly a month.
Major Support:$8.548, $8.32, $8.283-$8.24 Minor Support: $8.065, $7.69,$7.36, Major Resistance:$8.916, $8.996, $9.60
