Futures showing some weakness this morning following modest declines in Asia and European markets. Asian markets were open for first time since China announced a rate hike of another 1/4 percent. In reaction, the Heng Seng is down the most at over 1.3%. Its noteworthy to mention more political unrest between North and South Korea as military talks have apparently broken down between the two sides. No major economic news until Jobless claims tomorrow at 8:30am EST, though Ben Bernanke speaks at 10:00am EST this morning.
I'm more or less neutral this morning. I wouldn't be surprised to see some continued selling come in, though ES should find support above 1313.
Levels to watch today on the ES:
Resistance above at: 1320-1322, 1324-1325, 1328
Support below at: 1313-1314, 1305-1306, 1299-1301
Subscribe to:
Post Comments (Atom)
ES approaching 1313-1314 support now. Any longs here should only be scalps until support at that level has been confirmed.
ReplyDeleteMarket looking weak now as we revisit the lows of the day. Don't feel too confident buying support this time around...
ReplyDeleteLong ES at 1313.25
ReplyDeleteGot a little aggressive as we have not confirmed support yet. Proceed with caution...
ReplyDeleteWill consider break even stop now. Will not defend below 1312.75
ReplyDeleteLooking for a target of 1317.25...
ReplyDeleteSold ES at 1317.25 for 4 points.
ReplyDelete