With yet another weak volume move up prices moved through the previous resistance high of 1112 and into the 1115 area. Prices closed trading for the day at 1114.00 after trading a consolidated 8.75 point range though the day. The lack of commitment on these moves up through resistance make it probable that they will retrace back down for another test on support. Where that will be depends on how high these prices float before market makers decide to sell off. Be careful, there is still more tight ranges and slow moves to come. 
Friday’s trading kept things in the consolidated range once again. Opening at 1102.75 and closing the day at the exact same price. Prices traded a range of 10.25 points through the day, but went nowhere over all.
Monday’s Trading could see prices retest the 1096 support, with 1092.75 and 1083.50 the next targets. If price does move through the resistance at 1112.00 we will be watching for a touch to 1119, with 1127 and 1132 the next area’s to watch for from there. 
With volume down even further Wednesday prices traded a very consolidated day. Prices opened at 1098.00 after a move up in the after hours trading, then traded a 6.75 point range for the day closing at 1097.75. This decreasing volume could give us the indication that price may be getting ready to turn back to the down side in the near future, as low volume moves up tend to set us up for high volume moves down as the lack of commitment cannot keep prices moving. With continued low volume we could see prices consolidate further, with no aggressive buyers or sellers there won’t be much action. However there are some news item up this week that may help to give this market some direction. Take note that we do have 3 open gaps to the downside to fill. I hope sooner than later.
Be ready to run. See you at the starting line!
