October 11, 2010

Morning Post, SPX, S&P 500, e-mini

Good morning and happy Columbus Day. Today should be pretty dull unless some news event happens. Minis up 2 after being as high as 1165. 60, 30 and 15m all say down, but that is no guarantee as we all know. I doubt I will even open my trading platform today.

Minis 4hr chart and the wedge. The pink dashed mear market upper resistance line and the blue dashed Oct '09 S/R line are now support and still very much in play. Purple support is the big kahuna to me. Still not ruling out this thing getting one more reset of the lower green wedge support line. Not ruling out the upper resistance line being reset either. We all know this market is rigged and will simply have to deal with that fact until 11/03.


GL today!
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