7.11.12 Levels

Yesterday we broke down out of the 6/29-7/9 balance between 1340-1370 with a swift flush below 1339.

Longs flushed and some new shorts initiated into the gap zone 1323.25-1342.75.  I expect balance today after trend day with levels above and below to potentially test to decide if we want back in the upper balance or not.  Levels above are 1339.5, 1341.5, 1346,1354, and 1357.  Levels below are 1331.75, 1327.5 1320.75 and 1317.5