Pre Market TAO Monday 7-6-09

The overnight markets have been selling off in Asia and Europe. The US Dollar is gaining strength.
Gold/ Crude/ down....Es Futures are at their lows 882.25 and is on a key support zone...I expect Spy to Gap down at open and run to 8900 support and bounce to the up side....this would be a low risk entry with a stop at 8875 ...my plan would be to enter after the test of the that bounce. the target will be 9100-9125.
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10:00 et am.... Tick is not showing any buy commitment.....sectors are starting to move sideways ..the utilities and staples are in a rally and indicates a safety rotation. the US Dollar gaped up at open and experienced a stiff sell resistance....we may be in a holding pattern until Dollar shows us which way it wants to go.
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10:30 et am ....so far the bulls haven't put up much of a fight ......I entered the Spy at 8900 and price is now sitting on s2 support 8884 ........and is just above my stop ....geees!
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12:00 et pm.....have seen some buying pressure but the big hitters haven't shown up yet....looks like the bears might try to sell this am rally.
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3:52 et pm .....slow day.... closed out long at 8975 that was 75 points to the good... it was ok