Wednesday, March 9, 2011

Markets More or Less Flat Ahead of the Opening Bell

Not expecting too much today, Asian markets up slightly, European markets mixed, but more or less flat. Support held overnight on the ES and US markets set to open up flat. Price of oil seems stable and no major news to talk about.

I'm neutral to bullish today and expect to see the ES trade as high as 1330.
I like buying the dips today. If ES trades lower than 1309, that would be bearish.
As usual news out of the middle east can always create volatility and anything that will escalate oil prices will likely send the market lower.

Levels to watch today on the ES:
Resistance above at: 1326-1327, 1330-1332
Support Below at: 1316-1317, 1310-1312
Posted by Verde at 9:04 AM
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6 comments:

  1. VerdeMarch 9, 2011 at 9:10 AM

    Long ES at 1317.75

    ReplyDelete
  2. AnonymousMarch 9, 2011 at 9:28 AM

    Morning Verde - Shorts may be the way to go today... SPX 1325 area still looms close by and not sure they will go after it again so soon... Tricky market right here... We shall see...

    Vis

    ReplyDelete
  3. VerdeMarch 9, 2011 at 9:34 AM

    Sell at 1319

    ReplyDelete
  4. VerdeMarch 9, 2011 at 9:43 AM

    Will consider long at 1310-1312

    ReplyDelete
  5. AnonymousMarch 9, 2011 at 10:28 AM

    Can you say "whipsaw"... ;)

    Vis

    ReplyDelete
  6. VerdeMarch 9, 2011 at 10:36 AM

    A lot more volatility today than I was expecting...

    ReplyDelete

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