Levels to watch today on the ES:
Resistance above at 1315-1316, 1319-1320, 1325-1326
Support below at 1308-1309, 1305-1306
Thursday, May 31, 2012
Market Teetering on Support Amidst European Fears
Fears over the European situation are high. The Euro sank to $1.2357 against the dollar yesterday and US markets sold off along with it. Amidst market fear however, key support is holding on the ES at 1305-1309. As long as we don't see a daily close below this price point, I continue to prefer the long side in the short-term as my 1350 (at least) price target remains.
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