ES Thursday 7-5-2012

Looking very close to a good support zone I have coinciding with my PRC Band on the ES @1359.00. nice place to have a buy since the DB Stochastics is signaling an oversold number and the fib zone is the 2.618% projection. Looking for a scalp of 2 pts and a SL of 4pts. Let's see what market does with this huge movement to the downside of the EUR=6E

you have last week's high in that area also fwiw

and below that you have some low vol in the 57-57.5, so i guess the 57-59ish area is what i am looking at (mon's vah lies in that area as well)

Out @ 1361.00 nice scalp made....