Friday, June 11, 2010

June 11 2010 ES Prep Posted


***Prep zone prices are for June contract. Subtract 4.5 points to get Sept prices***

Powerful move up continues. Premise is to look for test of 1106.00 and range cycle completion. Shorts got totally rejected yesterday at inside support and price is getting drawn to 1106.00. I will look for inside support to wash and hold at 1081.00 and an test of 1091.00 with likely extension. if there is no hold at 1081.00, look for test of 1072.00 and potential range 1072.00 - 1091.00. If 1072.00 break, could see a run all the way down to 1053.00. The short side will be tough today. I will look to hit longs until prove otherwise. I have illustrated my execution areas.

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