Thursday, October 27, 2011

ES Futures Morning Session 10/27/11

After some profit taking, we got a bullish TICK divergence about two and a half points above R2. We still have resistance at the 0930 ET open and the Globex High.

The S&P 500 Advance - Decline line is just above 400, and the TRIN became more bullish as the futures price approached R2.

The S&P 500 index is testing its 200-day moving average, which is providing resistance.


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