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ES S/R Map for 11-4-09


Here's what I've got for potential S/R price action levels/zones (blue lines). The 1056 (and up to 1058) is a minor and "messier" area, but 56 is also the .786 fib rtc back up to the high of 1064 on 10/29/09 ... though I'm not a huge fib fan. My daily chart shows 50sma near 1049. The red line is Wkly Mid-Pvt.

Likely a funky day Wednesday due to Fed. Mkt currently trading at 1044 in night session. Interested in feedback and any other analysis!

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STATISTICALLY SPEAKING ,THE CLOSE THE MARKET IS GENERALLY VERY STRONG FROM THE CLOSE YESTERDAY TO THE LAST TRADING HOUR OF FED ANNOUNCEMENTS!...FWIW


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...THIS IS WHY I WIMPED OUT SO QUICK... PLUS ANOTHER EXPECTED MINI PEAK AROUND NOON
May short a retest of session high for a scalp ... somewhere in 56-57 area ... as long as it happens pretty soon. Getting within a couple of hours of FOMC gig and prefer not to be in mkt during that time.
thanks guys...volume showing double distribution..so i think they will jerk it around a bit in the 51 - 54 area pre announcement.
Agree with both of you ,Monkey and Bruce! i'll actually be a scalp buyer at 1050.50, but definitely out before the announcement!...no heroics here!
No trade for me and on sidelines until post announcement. Gonna get a bike ride in around the lake and be back in time for the fireworks.
based on gap up open, today I am looking for resistance at 1057 and 1073-74
Thot I'd mention, since not on my initial chart post, if 64.00 gets exceeded, I've got 69.50-71.50 as a zone above [kinda wide at 2 points] w/Wkly R1 near 71 ... and have 77.50 as next signif price up from there ... and it's about time for the fireworks.
LONG FROM 1052


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