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FRIDAY TRADE REPORT

THE MORNING REPORT – EMissTrade.com

Trading Day: FRIDAY – November 19th, 2011

OVERVIEW:

THANKS GM – NOT!  The head fake that came today was partly due to the anticipated GM IPO and some good data early in the morning.  Albeit an up day the market headed north on lower volume.  Nonetheless the day had a weird feel to it. The patterns were not clear and moves were sporadic and short lived.  It was a good day to sit on the side lines. 

For FRIDAY:

It’s options expiration and there are no economic releases.  So we may see some jockeying for position early in the morning and then it may grind in one direction.  Be careful not to get chopped up off the open – it can happen quickly.  We will be watching the 1203-1204 area on the upside and then 1193.25 area on the downside.  Also notice the short term and long term trends are mixed.  Be on your toes Friday and Trade to Trade Well!

@emisstrade
www.emisstrade.com

 

TREND:

SHORT TERM TREND :  BULLISH

LONG TERM TREND :  BEARISH

 

TARGETS  NUMBERS: ESZ0
***1211.75 – Friday’s High

1210.50 – 11/12 Gap

***1202-1204 Area

***1199.00 – Yesterday’s High

1198.00 – CLOSE

***1193.25 Area

***1188.50 – Yesterday’s Low

1183.00 Area

***1170.50 – 1171.00 Area

1167.00 – 1168.00 Area

1162.00 – 1164 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.