Daily Speculative Levels

13 January 2011

S&P 500 (Mar’11 ES) Intraday: Bias Remains Up

Primary Sceanrio:  LONG positions above 1276

Alternate Scenario:  Failure at 1276 will signal a slide to close downside gap at 1270.  1262 is next level support.

Commentary:  The market managed to gap up off the open on Wednesday (Jan12) and never quite filled the gap below at 1270.  Upside resistance is non-existent in teh near range if markets probes to test old lows.  Trading range from 58 – 74 broken (to upside).




Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s