Tuesday, February 28, 2012

Post Cash Close S&P500 Futures Chart

15 min ES
WE closed under the pre market high of 1373.75 though so far we are over 1370. A level we have NOT closed over in a year. Nasdaq continued her break out into the 2630 zone.  2635 ist he high. I am looking at the light blue dotted uptrending line which continues from last sunday; as support. Below the line we have to look back at 1366 as support.

 If you remember earlier today i highlighted an inverse H&S in the ES, the head was slightly below 1365 - 1364.75 to be exact. Yesterday and last thursday the NQ exhibited similar trading programs which resulted in a very tradeable trend.  DOW futures are still 5 points under 13000 as of this article, though pre market it traded 13023.

TLT 5 min.. notice the trend break late into session today
Bonds showed weakness into the close after nearly a week of gains in the face of a declining dollar, which is on year lows 78.23..

I am looking for TLT to break down below 118 and test the 115 again again, perhaps by thursday or friday.