The SPX 500 sits about 8 points lower than the close on the S&P 500 (as of 7:30am EST). We have continued in a range from 1,280 to 1,225 area and now beginning to form a wedge. As usual any news out of Europe will drive the market. If Italian 10 year Bonds continue to push above 7%, we should see the USD continue to gain ground and equities begin to stall out. At 8:30am EST we have the release of Core CPI followed by TIC Purchases at 9:00am EST; these releases should cause some major price action. Always use proper leverage according to your equity when looking to enter risky trades during economic releases.
