TCM Notes : 6/8/09

• Keep an eye on the Treasury auctions this week. Over 100b hitting the market this week, and if an auction goes bad money could come out of equities. Pre-market futures are calling for a lower open, but we've seen that several Mondays in a row play out to be the ultimate buying opportunity. While there is defined overhead resistance likewise there is defined support underneath. Those areas will be the buy zones until they are violated with bearish moving average crossovers. And that's not the case just yet. So we shall see how Mr. Market feels this week when the bell dings.