Saturday, June 16, 2007

New Highs Again, on the ES

With data showing tame inflation, the Bulls took the ooportunity to rally last night. And rally they did, alright! The previous PRIME Resistance at 1543.00 was taken out so convincingly that one wouldn't have thought that as recently as just 1 week ago, Leg 1 of Bull Break had been created on the SWING Chart! In any case, last night's actions have invalidated that Bull Break, much to the chagrin of many many Bears around...
Some key Support & Resistance levels to take note of:

- last PRIME Support is at 1533.75
- New PRIME Resistance at 1554.00

- last PRIME Support is at 1494.25

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