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Weekly wave structure appears to be in final stages of a b wave triangle. Daily structure confirms this setup as it points to the completion of an ending wave c diagonal coinciding with multi timeframe divergence in momentum.A fortification of 134.2 in the ensuing two dayturns month positive.A hold above in the month of June engulfsMay's candle. Next level of contention comes in at 139.4. A firm rejection here could trigger a release for another leg lower. Level must be monitored. A more likely scenariocalls for some reaction at this point followed by a thrust higher.Projections extend to 160.5. This objective should be achieved rather quickly. Perhaps within 4 to 5 weeks. Recommended strategy is for the purchase of July 135-155 call spread currently trading at 1.83 ( $686.25). Theexit target is at +/- 17.00 ( $6375.00). This equates to an9 to 1 risk/reward payoffand an 810% return on investment, minus all commissions and fees. A breakdown below 129.5 negates this outlook. It is always imperative to identify the price wherean alternate scenariocomesinto play.

Every recommendation is based on a favorable return on investment. Certain setups will not meet this requirement and the ones that do take time to develop and evolve. As always discipline, risk management andpatience are ones allies.

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John Lunney

Senior Technical Analyst

Walsh Trading

312 957 8108

888 391 7894 toll free

312 256 0109 fax

Walsh Trading

53 W Jackson Suite 750

Chicago, Il 60604

Walsh Trading, Inc. is registered as an Independent Introducing Broker with the Commodity Futures Trading Commission and an NFA Member.
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John Lunney began his trading career in 1989 as a clerk for IFO, the largest futures and futures options brokerage on the CME floor. Within one year, John was promoted to an executing floor broker responsible for handling large individual and institutional accounts. John’s knowledge of option theory and tactics quickly attracted a growing customer base. In 2000, John began exclusively trading futures and futures options for his own account. John later became a founding member of VI Capital, a proprietary trading company funded with personal and investor funds. At VI Capital, John was the director of risk management, technical analysis and strategy development. VI Capital realized multi digit returns over the course of 8 years of trading.

John has extensive trading experience in stock indexes, metals, commodities, energy and agriculture products. He believes that hard work reveals the best trading opportunities, and strong discipline creates consistent results. John possesses a unique ability to connect with customers, understand their goals, and work with them to create long and profitable relationships.

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Phone: 312-957-8108 or 888-391-7894

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