Florium

Dear Members, It is worth noting that the entire pullback from the June highs is starting to take the form of a possible Bull Flag. Support of the structure would be 4329 - 4337[: hit this early morning in the futs] zone and resistance around 4405. To my opinion such large patterns shouldn't let affect your intraday trading activity. They are not for 'predicting' , which we never do 'cause we should "only react and not anticipate" [quote by the eminent mr. Art Cashin]. Therefore, intraday trading by level-to-level from out support(s) at first the 4337 and below there the 4329, ought to be a solid one with further upwards resistances 4349,4359 and {major one} 4366. Anyway, don't hold overnight positions now in the summer/chopping market. Of course, I did so that I can't follow the genuine rule "sell in may and go away but return on 'Labor Day' (Sept. 4th)". Do you agree (?) Thx. Rgrds, Paul