Friday, April 24, 2009

Market update - Apr 24th '09

Not much to say about ES today really...
Intraday traders can have some fun on tick charts, but the 60mins chart is congested in a trading range, and the Daily chart is holding well although the 'air hole' could happen anytime. Check 843 as an intermediate support, which if broken would make the market move to the price segment below (828 - 843).

Same picture on ER (TF), which again looks quite resilient still.

We'll review our scenario quietly over the weekend as we don't anticipate the markets to collapse today.

( posted 7 AM UK )