ES Journal - 2012

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Quote from ammo:

spx a lot of touches in the 40 to 48 zone,congestion area?

with all the bullish veiws out there and some infamous bears turning bullish, i guess it could be viewed as accumulation with the assumption that the feds will do something. i still can't figure out why they would want to do anything and if they do, it is clear their job description has changed from the current dual mandate.
 
I expect strong resistance at 1355, the 20 week sma, a close above that is significant and should be a harbinger of further gains for those holding longer term.
 
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