Durable Goods Orders exceeded expectations by 1.5%, but excluding transportation (which saw a big growth in airplane orders), orders fell by .8%. This could be considered negative overall and right now the market is set to open lower as we threaten to break down below the 1173-1175 support on the ES.
There is more support below at: 1169-1170 and at 1163-1165. I will be looking to buy the market if we trade down to either of these support levels.
Resistance above at 1179-1181. If we don't break down further this morning and the ES confirms back above 1179, we should trade as high as 1190.
As usual, I will post in the comments here if I enter any trades at the levels mentioned...
Wednesday, October 27, 2010
Subscribe to:
Posts (Atom)
