Thursday, February 16, 2012

ES Futures Morning Session 02/16/12

Looking at the Globex ES Futures charts today.

The market is continuing to stay within the 1353 to 1330 area. As we know, the market did try to break above 1353 yesterday, only to crash back into this range. On the 5-minute Globex chart, the market did break below yesterday's low, but the economic reports this morning lifted the market above this level, and it has stayed above yesterday's low throughout this morning's session. Watch for a high volume break and close outside of this range. It will not stay here forever.


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