November 17, 2010

S&P 500 Futures update

  • ES Hour chart shows a range of 1170 - 1180.
  • Breakout from this level can give good direction.
  • 2nd chart shows the large deviation of price from 200 hour moving average.
  • So we may see a sideways consolidation to catch up with the 200 hour moving average or a pull back towards the moving average to reduce the deviation.

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