After falling below 1080 last night, the ES has caught a bid trading back up as much as 71 points off the lows. This move followed similar action in Asian markets.
Watch for FOMC minutes this afternoon (2:15pm EST).
I will be looking for opportunities to buy this market if we can get any pull back in morning trading. Its hard to tell if the market will continue higher or if this is just a bear market rally that will quickly be followed by more selling. If ES can confirm a move above the 1148-1152 price point, this rally may have some legs.
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