Short term top?

We will now be referring to the December contract on the S&P futures from this point forward. Yesterdays action saw a strong up move in the morning on good news that propelled this market to 1107. The day looked to have all the makings of a trend up day but gave back the gains in the afternoon. Could the 1107 be a short term top? We will have to see although all the indicators seem to indicate that it might be. We had no plus tick or buy programs yesterday and we did see some strong waves of selling in the afternoon where we saw 4 instances of minus tick. Today should be a good trading day as the market has light news and we could see a nice trading range being carved out and maybe the beginning stages of a box pattern. If you are interested in the upcoming seminars or advisory service please call the office to reserve your spot.