16 Nov

#eMini Trading Levels & SPY Volume at Price

Posted in Intraday Analysis by Bob English at 11:17:20 Comments are off

10:17 am EDT:  Longs did their job early as they needed to, with the ES having reached the weekly R1 target of 1108.25 quite easily.  Next resistance is 1116.50 (daily R3′s), then weekly R2 in confluence with a huge 50% retracement (1124.75 to 1126.25), not pictured.  Only a very unlikely close below 1096.00 puts the rally in jeopardy today.

esz09 11-16-09 s-r a

SPY is benefitting from very little overhead supply in this area:

spy vol@price 11-15-09

Related Posts

Comments are closed


 

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.

__________________________________________________________

Copyright © 2009 The Precision Report