Hello Traders, this morning we are looking at a flat open on the S&P as we are awaiting a lot of economic news this a.m. As far as levels go on the S&P futures, we have to watch the 1098.25 level. That is the top of the big long sell off bar we have on the right side of the chart. Notice how we have risen to it on low volume and now we are stalling out a bit. However, remember that we are above the 50% line of the channel and that means we could go to the top of the channel, but at the same time it's options X so a lot of crazy shit is going on. Now on the left chart we have are ranges to watch for the day with the possible high being around the 1110.87 level on the /ES and the possible low being around 1086.12. One last note to remember, the right chart is a 3 day bar and the left is 2 hours so those give you some real good levels. Yellow line on right side marks the beggining of March and thats just to show that in fact it does look possible that they can goose this rally up more and go into March. Also we are above the 50MA and 20MA on the 2 hour chart. A break through the 20MA would bold well for us hitting the lower range of the day. ENJOY!!!
Channel Guy Ouutta hereee
No comments:
Post a Comment