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e-Mini S&P Levels

The September e-mini S&P (ES) had a strong day yesterday, moving past 2 of our resistance levels and it is currently approaching the 1270 level.  To reiterate yesterday’s point: “we look for a move below 1200 – 1159.50 looks like the eventual target.  Only a bounce back above 1276 would negate the downside scenario”.  If you draw a trendline connecting the highs from 6/6 (1414) and 7/23 (1291.25), the line sits around 1273 today.  Support @ 1256.75, 1248.50 (pivot), 1235.25, 1222, 1209.75, 1204 and 1190. Resistance @ 1270, 1276.25, 1286.25, 1291.75 (pivot), 1298, 1307.50 and 1321.50.

Posted on Wednesday, July 30, 2008 at 09:01AM by Registered CommenterJay L in | Comments Off

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