Trading Day: WEDNESDAY – December 15th, 2010
OVERVIEW: WHERE’S THE BEEF
FOMC came and went with the equivalent of a small sniffle. With the Fed keeping things unchanged the market stumbled and then found the path to the short side where the buyers cut the slide around 1233. Lackluster at best!! If you took the day off you didn’t miss anything.
With FOMC behind us we look towards Quad Witching on Friday. Wednesday will bring us more news which hopefully will provide volatility. It would surprise me to see the year end on low volume, range bound crap. NOTE: We have closed the last 3 days within .50 of 1236 – that’s a clue! Also, we have gone up and tested the 1242 area again and the area was rejected again. However, volume didn’t support big commercial selling so we have no bias on direction. Stay nimble Wed and keep an open mind on direction.
TUESDAY: Emisstrade was 2 for 2 again…check us out!
EMISSTRADE END OF THE YEAR SPECIAL: 2 for 1
We posted impressive numbers in November…
…Check out our results: EMISSTRADE - TRADE RESULTS
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SHORT TERM TREND: NEUTRAL
LONG TERM TREND: BULLISH
TARGETS NUMBERS: ESZ0
***1242.25 – YEARLY HIGH
***1242.25 – Yesterday’s HIGH
<<<1236.50 – CLOSE>>>
***1233.00 – Yesterday’s Low
1220.00 – 1222 Area
***1209.25-1210.00 - Area
1189.75 – 1191.50 Area
*** - Area could provide Major Support/Resistance to price
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