Friday, March 27, 2009

Market update - Mar 27th '09

ES and ER are really bullish and their targets given yesterday have already about been hit.

ER: the 437 pivot level has maybe been penetrated on account of high volatility but it could still hold. We personally can't quite see ER (TF) reach 468 without a retracement, yet the main guideline has always been "go with the flow" so why complain now if bars stay blue... We know this will stop soon, but let's enjoy the ride so long.

ES: same scenario.
We would like to see 812 being now tested as support for prices to go higher (846?).

Late buyers have to be cautious though.

( posted ... late ... 9 AM UK )