Tuesday, February 16, 2010

Wed. 02/17/2010 - S&P 500 Futures Key Support/Resistance Levels

E-Mini S&P 500 Futures
We've had three consecutive positive days with price closing at or near the High of Day. Typically, I would look for consolidation but if we get positive Econ Data tomorrow morning, we could easily break through 1100. I'm anticipating the Buying to shut off in the 1106-1107.50 Area. Expecting two-sided moves, and an overall range-bound day tomorrow. The pre-market activity on the Econ releases will also provide some reference points and near-term direction.

Econ Data
Housing Starts and Import and Export Prices at 7:30 AM (cst), Redbook at 7:55 AM (cst), Industrial Production at 8:15 AM (cst), FOMC Minutes and Treasury Budget at 1:00 PM (cst)

ES - Daily Chart with Volume Profile and Key Levels

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