Tuesday, May 25, 2010

May 25 2010 ES Prep Posted


Premise for today is to see if price congests at 1036.25 or continues down. If 1036.25 holds, look for range 1036.25 - 1052.25 with a bias for a correction upward. If 1036.25 does not hold, follow the trend down. Next level of support is 1019.50. Levels below that are 1004.00 and 1000.00. I will look for a sideways congestion today but be ready to act if the price starts moving. I will look for longs off 1036.25 and shorts off 1052.25. I will play the projected congestion until it breaks out.

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