Tuesday, December 8, 2009

Tuesday 12/08/2009 - S&P 500 Market Review

E-Mini S&P 500
Very structured price movement today! The levels and scenarios played out well. I was anticipating a trend move out of that triangle on the Hourly chart, and that worked itself in the overnight session.

ES Hourly Chart

I was anticipating a bounce on first touch of the 1091-1093 support zone, and we got a 3.75 point bounce at 1093.00 and a 4.50 point bounce at 1092 in the overnight session, so the 1091-1093 was a good support zone to take trades against. 1086.75 was the range extension / support, and price put in the Low of Day at 1087.75. Once the low was in, we saw symmetrical swings up to 1097.50 (symmetry is not drawn on chart).

ES 5-Minute Day Session Chart for 12/08/09


  1. HI
    when you mentioned support zone with blue rectanle
    i did not get it how do you got this ,
    could you please explain this .
    thanks for help

  2. Anon, check last night's post. 1091-1093 was highlighted as a Strong Support Zone based on Volume Profile and Fib Retracements/Extensions


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