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The Morning Report - FRIDAY, November 12, 2010

THE MORNING REPORT – EMissTrade.com

Trading Day: FRIDAY, November 12, 2010

OVERVIEW:

As tweeted last night @emisstrade we saw the Globex session sell off due to Cisco earnings.  We expected the market to find support which it did shortly after the open of the RTH at 1202.00 - then it was a nice uptrend for the remainder of the day.  Even though the Bond market was closed and traders took the holiday day off we saw decent volume.  Trend traders had reason to smile today. 

For FRIDAY:

We have Consumer Sentiment News out in the AM (9:55AM EST) which may give us a hint of how the consumers are feeling heading into the shopping season.  Long Term Trend is Bullish.  Short Term Trend is Neutral/Bullish.  We will be watching the 1202 area on the downside and 1217 area on the upside.  With a break of 1202, expect to trade down to 1198.  If we break out of the 1217 area then we will expect to see the 1224.00 area. 

As always, Friday at NOON we ask ourselves…”do you know where you money is”?  Per our plan we do not initiate any new trades after 12 Noon on Fridays.  Trade to trade well.  Have a nice Friday and great weekend! 

Trade Less Earn More!

@emisstrade
www.emisstrade.com

 

TREND:

SHORT TERM TREND :  Neutral/Bullish

LONG TERM TREND :  Bullish


TARGET  NUMBERS: ESZ0

***1250 – Commercial Objective

1235.00

1224.50 - 1224.75 Last Week High

1217.00 - 1219.50 Area

1213.75 – Yesterday’s High

***1210.50 – CLOSE***

1207.00 Area (Only for target or scale)

1201.75 - 1202.00 Area – Yesterday’s Low

***1197-1198 Area

 

*** - Area could provide Major Support/Resistance to price

Disclaimer
There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. EmissTrade.com, its officers, directors and its contributors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction. There is a substantial risk of loss in trading futures and options.