ES Journal - 2012

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as much as i hate to try and rationalize market reaction to big reports like this, unemployment rate is still dropping and that handcuffs the fed to further easing. strong support for sell in may and go away.

i am leaving my bid at 72 to cover my small position. let the cards fall where they fall.
 
If open below yesterday`s low, I will watch how price reacts at yesterdays low if we trade up there. Trading above there and finding support, I would look for the gap fill at 87,75 (yes it`s a gap). :)

If yesterday`s low is resistance, then I see support at 83 and 80.

If that does not hold, we have an open gap at 68,25, which should be ripe for taking. 50% of that gap at 1375, which may be worth paying attention to. Globex spike low at 78,25 may be worth having an eye on as well.

Oh, and globex 50% retracement at 1383,50.

Now, back to crude oil.

Happy hunting! :)
 
Quote from mastacoli71:

as much as i hate to try and rationalize market reaction to big reports like this, unemployment rate is still dropping and that handcuffs the fed to further easing. strong support for sell in may and go away.

i am leaving my bid at 72 to cover my small position. let the cards fall where they fall.
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Showing some support off this open at 80. flat 80.
 
Quote from sttrader:

Magic hand holding market above 1390-95 area which would be line in the sand till it breaks. 1420 or 1380 area...which will come first? Close below 1370 and advantage to the bears.
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See if we can approach 1370 area. So far slow controlled selling like a soft landing.
 
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