Good morning everyone! I hope you all had a wonderful and happy holiday. Only 3 more trading days left in 2008 before we attempt to erase what some would consider to be one of the worse financial years. Nevertheless, pre-market futures are pointing slightly higher this morning. Oil seems to been the big focus once again after it moved below $37 a barrel last week. But, with all the trouble in the middle east once again, it seems that supplies may be cut off and production will start to fall behind. As of this writing Oil is up almost 8% or roughly $3/barrel. This week should be interesting as large funds and investors are going to be positioning themselves for the coming year. Whether we see a nice rally or continued selling is fairly unclear, so let's just play the reversal odds as usual okay...Below I posted today's intra-day S&P support and resistance levels for you all. Please email me with any questions. Happy Trading!
