12:12pm ET: Intraday support/resistance:
SPX 1335/1350
DTX 544/549
DJIA 12600/12700
Nasdaq 2820/2850
OEX 596/600.5
VIX 16.75/18.75
Trin range: 0.9 – 1.4
Average VWAPs: +100/-21 (bullish)

1:10pm ET: Intraday support/resistance:
SPX 1340/1355
DTX 595.5/553.5
DJIA 12575/12775
Nasdaq 2830/2860
OEX 597/605
VIX 16.1/18.9
Trin range: 0.7 – 1.0
Average VWAPs: +44/-76 (mildly bearish)

12:30pm ET: Trade Alert! Copper ETF (JJC) breaks major support
The copper ETF (JJC) broke major support at $54 on heavier than normal volume. Next major support level is $49.

One options play would be a bear-put debit spread. The June $53/$49 is currently trading at a net debit of $1.60 ($2.30 for the June 53 put and $0.70 for the June 49 put). Maximum profit is the difference between the strike prices less the cost of the spread which is $4 – $1.60 = $2.40, giving a maximum ROI of 150%. The JJC chart is below.

12:07pm ET: Intraday support/resistance:
SPX 1336/1352
DTX 537/549
DJIA 12600/12740
Nasdaq 2812.5/2842.5
OEX 596.5/602.5
VIX 16.8/18
Trin range: 0.8 – 1.40 (rising)
Average VWAPs: +135/-34 (bullish, as of this writing)

1:35pm ET: Intraday support/resistance
SPX 1338/1356
DTX 534/548
DJIA 12650/12810
Nasdaq 2802/2848
OEX 597/606
VIX 16.8/17.8
Trin range: 0.70 – 1.20
Average VWAPs: +55/-58 (bull/bear tug-o-war)

1:07pm ET: Intraday support/resistance
SPX 1355/1361
DTX 544.5/550.5
DJIA 12775/12855
Nasdaq 2832.5/2862.5
OEX 605/608
VIX 16.1/16.9
Trin range: 0.60 – 0.80
Average VWAPs: +28/-96 (moderately bearish)

1:20pm ET:  Topping tails seen in all gold ETFs (GLD, IAU, PHYS, SGOL)
Long topping tails are forming in all of the gold ETFs. This follows on the heels of smaller tails that formed on Friday. What this formation suggests is that buying pressure is drying up and when that happens, the price has no where to go but down. Holders of gold may want to heed this technical warning and put on some protection.

The daily chart of the GLD is shown below and is typical of recent action in the other gold funds.

1:10pm ET: Intraday support/resistance:
SPX 1358.5/1370.5
DTX 548.5/556.5
DJIA 12785/12875
Nasdaq 2857.5/2887.5
OEX 606/611
VIX 15/16.1
Average VWAPs: +28/-97 (moderately bearish)
Trin range: 0.75 – 1.20