Monday, May 10, 2010

Big Gap Up

The futures continued to get a bid overnight and we are now trading over 1150 on the ES.

I will be looking for short entries. Some resistance levels to consider possible short entries are 1162, 1172.50, 1176.50, 1185

Support below is tricky, there is a large range without clearly defined support levels. This is one of the reasons I will be looking for a short entry that could find a nice runner to the downside. Possible support levels include: 1151, 1147, 1126 and 1108

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