Monday, January 25, 2010

Tuesday 01/26/2010 - S&P 500 Futures Key Support/Resistance Levels

E-Mini S&P 500 Futures
I feel we're due for a bounce here, but in the event that we don't get one, the resulting information will give us a clue as to how weak this market really is. So far, we're holding above that 1086-1088 area, and the plan is still to look for Buying opportunities in the 1080.50-1086 area. Below 1080, we could see a move to the 1060s. On the up side, the plan is to exit or scale out of Longs and begin looking for Selling opportunities in that 1109-1112 area.

Econ Data
Redbook at 7:55 AM (cst), S&P Case-Shiller HPI at 8:00 AM (cst), Consumer Confidence and State Street Investor Confidence Index at 9:00 AM (cst)

ES - Daily Chart with Volume Profile and Key Levels

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