December 14, 2010

S&P 500 Futures Before opening bell

  • ES Hour chart is showing resistance at 1247
  • Support is seen at 1238 area.
  • 1238 area was acting as resistance before the index gave a breakout above that level. So this resistance area is acting as support now.
  • Closing below 1238 will be negative in the short term.
  • ES should trade above 1247 and 1250 for bigger up moves to happen.
  • S&P 500 ANALYSIS AFTER CLOSING BELL

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