Wednesday, June 23, 2010

June 23 2010 ES Prep Posted


Price is drifting in between 1101.75 - 1084.50. There is not much happening here. Premise for this morning will be to see if price retests 1101.75 or moves down to 1084.50. I will be looking for an initial contraction and watch the break for direction. There will likely be one good move prior to the pre Fed contraction. I will focus on hitting trades at the zones directly above and below the current price unless I get a significant directional setup with pattern confirmation mid range. The zones are always in effect but visualization will need to be re-calibrated after the Fed announcement.

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