Thursday, January 13, 2011

Ahead of the Data

Markets trading near yesterday's highs ahead of this morning's data with PPI and Jobless claims due out in 15 minutes (8:30am EST).

Watch the 1286-1288 price point (ES). I like shorts here assuming the data this morning's is not overwhelmingly positive.

Resistance above at 1285-1286, 1287-1288, 1290. So really, anywhere up to 1290 from the current high of 1284.50. If I have to pick a number it would be 1287

Support below at 1277, 1270, 1265

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