Monday, April 22, 2013

S&P 500 futures are higher ahead of Monday open, T-complex bid

SP 500 E-mini Future

5 min ES 
Good morning, happy Monday my friends. As i type the ES is higher by 7 points to 1554.50 with 1557.50 acting as resistance with the 1560 level the first head level the price must climb to really put some extension on this pinch over the white line we talked about this past Thursday. 

ON the reverse side 1550 is support with 1546.50 being the last line in sand before we see 1540, so pick your poison. IMO i believe it will be easier to trade a break up or break down under the two prices discussed above, all priced derived from the 5m in ES.

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