eMini recap & overnight trading levels

The ES has established value around a new minor point of control at 921.75 on a very low volatility/volume day.  Overnight, longs will likely come in at 919.00 (day-session-only pivot), then 915.50 (50% retracement off Globex range), then major point of control at 913.00, which we expect will contain price action until the 9:00 am EDT housing report.  To the upside, 922.50 to 924.00 (today’s point of control to today’s high) will serve as heaviest resistance, then Fib/daily R1 confluence from 926.25 to 927.75, which should contain price overnight as well.

esu09 6-29-09 s-r on

1 Response to

  1. billionaire

    on June 29 2009 at 23:13:01

    Thank you Bob for your excellent guidelines. Could you please explain what your definition of “point of control” is exactly and what are its trading implications?
    Billy

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Disclaimer: The information presented on this site is for educational purposes only. No personal trade recommendations are being made hereby. Trading futures is highly risky and you can lose a substantial amount of money. Past performance is not necessarily indicative of future results.

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