The 1330 to 1320 area is still acting as resistance. The market maybe creating a new equilibrium zone between 1320 and 1270. It will be interesting to see if the market keeps bouncing up and down in this wide range.
In Pre-Market activity early Friday morning (03/14/08), the ES market has corrected to the 50% level of yesterday's range, which is also the middle of the lunchtime equilibrium zone created mid-day Thursday. We will see if this contiunues to act as a support area throughout the trading activity on Friday.
Charles
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