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Market Trading Guru |
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By Terry Martin
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March 26, 2010
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As I mentioned last week, looks like this Market (S&P 500) continues to defy gravity. Now I estimate that the Market will trade to 1185.25 (June eMini contract) before running into a lot of resistance. Although the Market may want to retrace some before heading up to that Trading Level.
I say this because the RSI (Relative Strength Indicator) suggests that the Market is losing strength along with High volume on a losing day. I would like to see the Market retrace down to the breakout level (1142 on the June contract).
Here are my updated Trading Levels:
June Contract
1185.25
1166.25
1159.00
1154.50 (Important Level)
1151.00 (Important Level)
1147.25 (Important Level)
1142.75
And here are my updated Trading Points which may be HIT (updated):
1117.25 (updated with June Contract)
1109.75 (updated with June Contract)
1100.50 (updated with June Contract)
 Click on image to enlarge!
Have a Profitable Day Trading!
For more from the Market Trading Guru, you can follow his blog at http://mrkttradingguru.wordpress.com to receive the daily Trading Levels or on Twitter: @MrktTradingGuru. |
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