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

Europe Announces $1 Trillion Bailout in Attempt to Stabilize World Markets

Futures are up, Euro is up, dollar is down as the US equities markets look to gap up on Monday Morning.

Key resistance between 1144 and 1145 on the ES. A close above this level will be a bullish sign for the markets.