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e-Mini S&P Levels

The September e-mini S&P (ES) is back to the middle of the rising wedge we started watching Tuesday, after coming within 7 points of breaking below yesterday. Another move above 1307.50 could panic the shorts and get ES to 1321.50. Again, look at the Nasdaq 100 e-mini (NQ) as a bellwether. Until it exhibits weakness, ES will tag along to higher levels. Support @ 1291.75 (pivot), 1286.25, 1276.25, 1271.75 (trendline), 1256.75, 1248.50 (pivot) and 1235.25. Resistance @ 1298, 1307.50, 1321.50, 1332.75 and 1343.25.

Posted on Friday, August 15, 2008 at 08:54AM by Registered CommenterJay L in | Comments Off

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