Thursday, November 8, 2012

The 1300 level in the $ES_F is worth a gander -

1300 is uptrending support from the March 2009 lows in the S&P 500 futures of 665.75... A test of the 1300 level will test uptrending support as well as probe summer 2012 support and December 2011 resistance turned support for the first time 4 months or 11 months respectively.

Below 1300 means trouble lot of air for right back to 1250-1200.....

Daily ES_F
Weekly ES_F - note the uptrend from 2009 lows and the white dot @ the intersection of 1300 support from summer of 2012 and uptrend from 2009.