Tuesday, January 3, 2012

ES Futures Challenging 10/27/11 High 01/03/12

The ES Futures is trading well beyond R3 and challenging the 10/27/11 high on better than expected manufacturing news from Europe. The market is also anticipating good US manufacturing news as well.

Watch for signs that the market wants to continue its advance after the 0930 ET open, such as the $TICK reaching + 800 in the first half hour to the first hour of trading. For some confirmation, the $TIKI should also exceed + 24. Otherwise, look for breaks past R3 and R2 to test Friday's high.

European Stocks Rise Before US Report
UK Manufacturing Shrinks Less Than Forecast - Demand Also Increases In Germany and China


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