Sunday, March 01, 2009

Weekly Report on ES - Mar 2nd to 6th '09

After ES broke 750 to then test as a resistance level, we know things would look a little dire. We're now on our target around 730, but is there anything to lift our spirits now... ?

60 mins:
Heavy selling late in the day does not bode well for a recovery early monday and while we may see some support here, ES may well reach high 710s now...

Same picture here. Obviously we may hope that ER being a little behind, the fall will stop when/if 375 holds (that would equate to the high 710s here). All we can say that ES is immensely oversold and a bounce is always possible, without hardly any chance of reversing the trend in the short term though.

Same sinister outlook. Are we really aiming at 625 now ... !?!? Oh well, there is still a support on 680 on the way.

( posted Sunday 8 PM UK )