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Jamie's Pick: 04/04/12

Jamie's Pick: 04/04/12

Jamie Saettele, CMT, Sr. Technical Strategist

I went short yesterday (published through Twitter) at 10340. The stop was 10375 which remains sufficient for now. Continue to look lower towards January pivots of 10230 and 10145 (YTD low). If risk really falls out of bed, then December lows at 10045 and 9860 are in focus. 10315/50 is resistance but the fast nature of the market necessitates an active approach and I’ll be updating short term levels through Twitter @JamieSaettele. I plan on being short throughout April but with varying degrees of leverage as markets reach mentioned supports/resistance.

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