Wednesday, October 19, 2011

ES Futures Stay Within S1 And R1 10/19/11

The first observation today is that we stayed in a narrow range between the half way points of S1 and R1. However, today was not a NR7 day. Notice how the Pivot line provided support until 1400 ET, in which it became resistance.

The S&P 500 index is now looking at the 100-day moving average as resistance.


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