Stockhaven is on a much needed vacation so unfortunately his daily @ the bell and @ the close commentaries will be unavailable. Stockhaven returns 6/19 and his commentaries will begin again on 6/20. In the mean time, here are his general thoughts on the market:
The market is simply rangebound over the last couple of weeks. Above 1,300 the case can be made that a substantial bottom is being carved out. Below 1,290 though and expect a retest and likely breakdown below the 1,266 low. Above 1,334, resistance resides first at 1,340 and then 1,357. Do not be afraid of the rise in the VIX either because remember without it being elevated you don’t get wide ranges that make for good trading opportunities in both directions.
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