Wednesday, June 10, 2009

Market Update - Jun 10th '09

Same trading range and same hesitation with that same underlying bullishness. ES levels have now moved up one notch, with a target around 950 to 953. We're still unsure whether we'll see the market give a go at 1000 before retracing. The daily chart indeed tends to suggest a pause if not a retracement once range highs are hit again.

TF could be aiming back at range highs but shows even less inclination to go straight to the 600. A retracement is quite likely to gather forces for the assault of the 600 / 625 levels.

( posted 8 AM UK )