E-Mini S&P 500 Futures Review/Analysis
The downside scenario posted last night played out well today. ES broke below Thursday's Low of Day in the overnight Globex session, which increased the probability of a range extension to the downside. The 1042 area was identified as Range Extension Extreme. The NFP reaction was pretty mild, and couldn't even tag the Globex High or Overnight Resistance. I wasn't expecting an end of day short covering rally of this magnitude, but as I posted last night, anything can happen at any time! Overall, a great trading day. Have a good weekend!
ES 5-Minute Chart for 02/05/10