Well, it looks like we HIT my 1096.50 Trading Point for the S&P eMini future but did not go back down to the 1056.00 Trading Point. We still may go back down to 1056.00 but will need a catalyst to make that happen. We blew through my Long Term Trading Levels with the Market strength of late. I have now added my Longer Term Trading Levels; and the Market on Thursday reached one of these important Trading Levels (1106.75). If the Market does not trade above Thursday’s High (1106.75) we will head back down to 1094.25 at least. I see this as a likely possibility due to: lack of volume and the steep angle of accent (which can not be sustained). On a positive note the RSI (Relative Strength Indicator) is behaving very well and confirming the strength of this latest move higher, suggesting the Market has put in a solid support at 1041.25.

Here are my Longer Term Trading Levels:
1122.25
1106.75(Important Level)
1094.25(Important Level)
1081.75(Important Level)
1066.25

And here are my updated Trading Points which may be HIT (updated):
1143.00
1096.50 (HIT)
1056.00 We came within .25 of Hitting this Trading Point – however I still say we need to Hit it.
1042.00 (HIT)

Click on image to enlarge!

Have a Profitable Day Trading!

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