Tuesday, October 20, 2009

PreMarket ES Futures Review 10/20/09

Earnings drove the overnight market up, and then the PPI drove the market down.
We are below yesterday's high volume area of 1093.75 to 1095.25, which is resistance. We are also above yesterday's close of 1090.75, and yesterday's early morning activity high of 1089.75, which is support.
The market must decide what is more important: earnings or PPI.

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