Tuesday, May 11, 2010

ES Futures Morning Review 05/11/10

The market is now testing yesterday's high at 1162.

Today we had the interesting combination of a $TICK that on average was above the zero line, but a NYSE Advance - Decline Line deep in bear territory. The A - D Line has since climbed out of its hole. The market never could correct below its VWAP Line which continued to act as support as the market closed the opening gap. The afternoon trading will tell us how strong the 1162 area is as resistance.


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