The Scenario and Key Levels posted last night worked out well today -- we got minor upward range extension followed by pullbacks to Friday's range. Price remained above Friday's mid-point, closing at 1056, so Bulls are safe for now. 1040.75 is the Key Level that needs to be held for further upside movement. Based on the analysis and scenario in the "Big Picture" post, we could see a move lower to the 1043.50 area tomorrow with resolution on longer-term direction later in the week.
I'm in the middle of mid-term exams so there probably won't be any Key Level posts this week.
ES 5-Minute Chart for 02/08/10
Good luck on your mid-terms. These have got to be close to your last ones, right?
ReplyDeleteThanks and yea, almost the last ones. I have mid-terms this week and final exams during the second week of March and then I'm DONE!
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