With Thursday being a narrow range day, the Key Levels haven't really changed much. Two sided moves are typical on quadruple witching Friday. A reversal of the overnight trend is something to watch out for at the cash open. We typically get a reversal of the morning trend around 11 AM (CT), or early in the afternoon. Bias is bullish above 1158 and bearish below. If we break out above Wednesday's high (1165.50), I would expect price to tag the 1170 area. On the downside, I'm expecting the 1139.50-1141.50 Support Zone to hold. On the upside, I'm expecting the buying to shut off in the 1177-1179.75 Resistance Zone. If you want to play it safe, sit out the first hour. Trade well!
Econ Data
No scheduled econ releases. Quadruple Witching Friday. Watch out for news out of Europe/Greece.
ES - Daily Chart with Volume Profile and Key Levels
Thanks for the help earlier today with pointing out some stuff on my chart about the trade I bailed on. That was great!
ReplyDeleteSteve
No problem Steve; glad I could help. Have a good weekend!
ReplyDelete