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E-Mini

10/21/11

10:18EST

Both the EUR/USD and CRUDE are lagging the equities (NYSE:ES); this is bearish for the ES

Looks like the EURO is the key today for the ES

13885 is a compression crossover (minor)

therefore it MUST hold that level in order to continue up to 13913/14; although I’m looking at 13946/51 (min.) to 13966 on this current move; never the 13913/14 is a major compression crossover (resistance – strong)

Crude MUST reach 88.93 (it should and higher) if not down we go

88.36 is pivotal support then nothing until 87.20/22