Trading volume surged and stocks sold in pre-market this morning as ES sold off 9 points in a matter of minutes as S&P issued negative outlook over U.S. Long-term debt.
In the near-term my bias continues to be short as I expect lower lows. 1319 held as resistance on Friday and I expect shorting into resistance to continue to provide positive returns
Levels to watch today on the ES:
Resistance above at 1306-1307, 1311-1312
Support below at 1296-1297, 1292-1293, 1289-1290
Monday, April 18, 2011
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