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e-Mini S&P Levels

Was last Wednesday an aberration in the action for the September e-mini S&P (ES)? As of Tuesday we were looking for a move below 1200 as long as 1276 was not violated. After Wednesday, we closed below 1276 on Thursday and only managed to rally to 1275 on Friday. Downside momentum should pick up on a break of the trendline we mentioned on Friday – connecting the lows from 7/15 (1200.75) and 7/29 (1231.50) - 1244 today. Support @ 1256.75, 1248.50 (pivot), 1235.25, 1222, 1209.75, 1204, 1190 and 1180. Resistance @ 1270, 1276.25, 1286.25, 1291.75 (pivot), 1298, 1307.50 and 1321.50.

Posted on Monday, August 4, 2008 at 08:55AM by Registered CommenterJay L in | Comments Off

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