Wednesday, October 26, 2011

ES Futures Morning Session 10/26/11

The S&P 500 Advance - Decline data was positive at the open. However, the TRIN was still indicating that there was more volume with declining stocks than with advancing stocks. There just was not enough advancing volume to propel the market past the R1 - Globex High resistance.

The support level of S1 attracted some advancing volume. This level is also near the 10-day moving average for the ES Futures. If the market can continue to close above this level, the market may continue its bullish advance.


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