Wednesday, February 1, 2012

Tuesday Morning S&P500 note

5 min ES
Nearly same pattern as yesterday morning. up from 1 am until about 4 am.. then sideways chop until US cash marke opens.. Over 1320.25 we could see 1325.. then possibly 1330 ... below 1315 could easily send us down to test 1310.  In the chart below you can see how resilient the 1305 level has become the last week and a half.  Euro strong still under 1.32 though over 1.31 ... still some short covering...
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