Sunday, March 28, 2010

Monday 03/29/2010 - S&P 500 Futures Key Support/Resistance Levels

E-Mini S&P 500 Futures
Last week, we observed strong Responsive Buying and each dip was bought up quickly, so the bias going into Monday is Bullish as long as price remains above Friday's Low (1156.50). On the upside, I would anticipate the Buying to shut off in the 1181-1183 area. The markets have been on a tear, and we haven't had any significant pullback. On the downside, 1139-1141 is a heavy area of Support and I anticipate Strong Buying to take place there if we get down to that area this week. It's also the end of the month, and Bulls sitting on large gains will probably want to close out March on a positive note! Keep in mind that on the larger time-frames, Bears are the ones who are hurting in this market. Trade well!

Econ Data
Personal Income and Outlays at 7:30 AM (CT)

ES - Daily Chart with Volume Profile and Key Levels

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