Tuesday, November 6, 2012

Election day 2012 S&P 500 Futures Chart - $ES_F

Well magically we rise over 1 percent today on the day our country picks a new* leader... The 1400 level had yet to be closed under by the time this morning rolled into the picture, this strength at support converted into the rise we are seeing today as shorts covered ahead of election into 1430.

The resistance level i am watching is 1431.50 which is last friday's high of day.. anything under this level means the ES could easily give back much of the steep gains based on the slope of the rise. IF this level can trade and convert to support we could be looking at 1440's by the end of the session considering the strength in crude oil the hast hour, now up 3.35 percent to 88.50.

1 hour ES
5 min ES