Wednesday, May 23, 2012

Quick Update After Sick Leave

I was out of commission for the past week with a stomach virus but am on some antibiotics and feeling better now. Regarding Monday's rally off the 1287.25 low on the ES, I believe we should see a short term upward move to at least 1350 from here, so I like buying the dips for now. The overnight low of 1302.25 marks good support and  represents a good spot to consider long entries. Overall we are still bearish so I will be favoring short entries once the ES trades back to 1350 or above.

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