Wednesday, March 24, 2010

March 24 2010 ES Prep Posted


Continuing to observe the powerful trend up. Premise for today is to watch for potential AM contraction. This has not confirmed yet. Overall bias is up with the trend. The overhead minor resistance is the bull market high. I would expect this to be retested and for there to be an extension attempt. I will be looking to initiate breakout longs and shorts targeting the zones above and below the contraction. I will also look to initiate longs off 1159.25 with confirmation that it is holding and shorts if 1170.50 gets washed out if there is premium structure for a correction downward. The market is due for a downside correction but it is prudent to wait for good structural confirmation prior to taking any sh

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.