Tuesday, March 9, 2010

Wed. 03/10/2010 - S&P 500 Futures Key Support/Resistance Levels

E-Mini S&P 500 Futures
I'm busy with final exams/papers/projects (last two weeks of school here), so will keep the post brief. Aside from the market being overbought and extended up here, I'm not seeing any reason to be Bearish just yet. I believe everyone is fully prepared for a pullback, and that could very well be the reason no significant pullback has materialized (too many people shorting & covering up here). The S&P Futures closed on Strength today, and so far we're seeing continuation of that strength in overnight trading. I'm anticipating the 1132.75-1134.75 Area to provide Strong Support if the buying is to continue. My Bull/Bear Line in the Sand is 1132.75; bullish if price is trading above it, and bearish if price is trading below it. Trade well!

Econ Data
Wholesale Trade at 9:00 AM (cst), EIA Petroleum Status Report at 9:30 AM (cst), and Treasury Budget at 1:00 PM (cst).

ES - Daily Chart with Volume Profile and Key Levels

1 comment:

  1. you're always keeping the post brief, but that's ok, the posts are quite useful, thank you!


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