Wednesday, November 16, 2011

ES Futures Morning Session 11/16/11

The Advance - Decline line is slightly bearish and the TRIN is neutral. The market once again bounced off S1, but is finding resistance near the Pivot. On the daily chart, the market's range is below average for 5 days now, and is just hanging around its 10-day moving average. Soon it will have to decide if it wants to go up or down with a range expansion.


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