Thursday, January 14, 2010

Key Support/Resistance Levels (S&P 500 Futures) for Friday 01/15/2010

E-Mini S&P 500 Futures
I will continue to use 1141 as Line in the Sand to establish directional bias; bullish above and bearish below it. As long as we remain above 1141, I'm anticipating a test of 1150.50, followed by a pullback. Beyond 1150.50, I would expect a test of 1155.25, and finally the 1159 area. 1128 is still the Big # below, although we now also have some firm support in the 1135-1136 area as well. The estimated daily range for tomorrow is 13.50-17.75 points.

Econ Data
Consumer Price Index and Empire State Mfg Survey at 7:30 AM (cst), Industrial Production at 8:15 AM (cst), and Consumer Sentiment at 8:55 AM (cst).

ES - Daily Bar Chart with Volume Profile and Key Levels

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