ES_F 1095 - http://pic.gd/ec4533 - Measured move, S/r , fib, retracement, is expected to be a key level on the ay down.

$ES_F backtesting old channel, at -3 5day sig, v oversold - http://pic.gd/4b6bb6 - pause/bounce expected $$
Further dump would be  a major outlier

$ES_F finding resistance at trendline connecting 2 highs from last week - http://pic.gd/90be38 $$

Hey Traders,

few interesting thigns worth noting on the dailys after todays session:

- Trades above previous rally highs on 2 consecutive days and failed to close above
- Today’s candle closed below the low of the high candle (say that 5 times fast), thus triggering a sell on the daily’s.

Here are some levels to be watching on the hourlys:

Resistance is the higlighted area - 50% retracement form today’s high, will update on the level later depending on what final low is made.

Support levels are highlighted:
- trendline + 200ema hrly + 38% retracement of recent move.
- 50% retracement and volume cluster
- 61% retracement and previous s/r band
- backtest of trendline that has been previously respected several times.

Will update when new technical developments take place.

Cheers

$$ $ES_F support levels http://pic.gd/f78539 - first 200ema hrly + trendline

- first 200ema hrly and a trendline

- 50% retracement and volume cluster

http://twitpic.com/eh9iw - $ES_F / $SPX backtest of the wedge in retracement zone holding for now $$

Next key $ES_F support level: http://twitpic.com/di5f1 . ES, YM, NQ, TF now over 102+% ATR $$

$ES_F close to the bottom of channel and fib confluence: http://twitpic.com/di0tt $$

Same old Yen channel still seems intact, with top of the channel laminated with 200ema hourly. Break above that channel and recent 1.06 highs would like be bearish for equities.

Hey Traders,

very low volume day today, lowest volume day since Jan 02, 09. Also traded in very tight range, here is % of ATR Summary for major indices:
ESU09    56.9
YMU09    62.7
TFU09    67.3
NQU09    77.8

Absolutely no new  technical developments on this inside day. Bigger time frame levels remain the same, refer to yesterday’s weekend update with daily and weekly charts.

Here is a quick update with immediate support / resistance levels:

Chart is very self explanatory, will keep an eye at highlighted areas as well as the blue channel. Also, keep an eye on 200ema hourl, especially when laminated with one of other s/r levels, it hasn’t been tested in over 3 weeks, thats how strong this move has been!

This week with Euro Zone GDP as well as FOMC meeting all eyes will be on the dollar, here is key channel and resistance levels:

Recent high laminted with 50ema, and top of the channels are two areas which could create a dollar squeeze and be rather bearish for equities.

As always will post key technical and internals updates on the blog and intraday via twitter @esecfutures

Cheers

Vlad