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ES

10/3/11

 

12:51EST

ESZ11:
No MAJOR Support until 1082ish Minor support at 1097.75/1098.00

The current move down could pause or bounce at 1:23/1:24EST

 

The bounce is at 1106.50/75

1108.25 will be a marginal bounce

the bounce at 1106.50/75 should reach 1118.00

not reaching it is bearish

not reaching 1114.50 is extremely bearish

 

12:21EST

ESZ11:

It could be early

but 1118.00 is pivotal resistance for 1095.50

Above 1118.00 then 1124.00 comes into play

If 1116.25 holds

Then down to 1108.25 bounce

Then down to 1106.75 bounce

 

10:25EST

ESZ11:

Now term:

1125.75/1126.00 is a potential failure level

1136.00 is the OAV (BB)

1131.25 is 1st level resistance

1123.00/25 is 1st level support

failing to trade above 1136.00

then down to 1095.50/1096.25

 

10:10EST

ESZ11:

Normally we would bounce up to 1138.00

But

Bulls are clearly underwater; thereby they should sell into this potential bounce

Never the less

 not reaching 1133.25 takes us down to 1102.50 or lower

A failure exactly at 1142.50 takes us immediately down to 1090.25