Thursday, November 3, 2011

ES Hits Important Short-Term Resistance This Morning

Consider taking profits on any longs now after ES moves into 1245-1255 range. Although reaction has been strong to news out of Europe, I can't ignore the short term technical levels that should provide some selling opportunities. I prefer shorts today as long as we don't get a confirmed move above 1255 ES.
Posted by Verde at 9:23 AM
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1 comment:

  1. VerdeNovember 3, 2011 at 10:07 AM

    Gap from yesterday's close (on the SPY) just filled. This is a good spot to take some profits on any shorts. Best idea is to take half the position off the table and let the other half run. Break-even stops at this point. ES currently at 1232

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