|
|
|
Chartwhiz E-mini S&P Report |
|
|
By Jeremy Ascher
|
|
June 10, 2011
|
|
June E-Mini S&P: E-Mini's caught a bid on Thursday triggering short covering to 1294 before sliding back to close at 1287. The market snapped a 6-day losing streak as it gained 10 handles on the day. Still, the close below 1290 leaves prices vulnerable to the downside. Having said that, we have a Flat to Bearish bias for today below 1290.
Seller can look to short the 1285-1290 R1 Pivot Resis range with Stops above 1291 suggested. We'll be looking for a droop below 1280 to spark a retest of June lows at 1276-1275 S2. A punch through 1275 clears the way for heavy resumed sell offs to 1266-1262 S3 to 1256-1250 S4.
Buyers can trade on a light scalping basis against S1 and S2 Support zones with 1 handle Stops below each range suggested. Cover longs within the 1285-1290 R1 Pivot Resis zone. The upside flip above 1290 favors a shift to the Bull camp targeting 1294-1295 R2 up to 1299-1300 R3.
Daily Chart:
 Click on image to enlarge!
For more from Jeremy, visit www.chartwhiz.com and register for a 1-month free trial to follow his daily and intra-day commentaries. |
|
|
This website is for educational purposes only. Offers and events from 3rd party vendors are provided for convenience only. Trader Kingdom is not responsible for the content of a 3rd party website or their services.
Futures, options, and spot currency trading have large potential risk and traders should be well-educated before putting real money at risk. You must be aware of the risks and willing to accept them in order to invest in all markets. Risk capital is money that can be lost without jeopardizing ones financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. This website is neither a solicitation nor an offer to buy/sell a futures contract or currency.
