There was some bullish up-trending action in the second half of trading today but the 1140 resistance is close overhead on the ES. We are still in consolidation mode until we confirm a break above the 1140 resistance. Gap Fill at 1107.50 was not officially met, so that leaves a potential move back down to that level a possibility for tomorrow.
Monday, May 17, 2010
Potential Short Term Bottom In
Short term up trend confirmation. Looking for long entries... Looking to enter if ES dips back to 8 period MA on the 10 minute chart... Next point of resistance at 1126 - 1127. Potential Short scalp at 1127.50
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