[/caption] S&P Emini 500 Futures had a small gap that filled quickly Thursday morning. Today's action tested, but did not pierce the high since the March 2009 low. That high, 1148 is also the 2010 high. Volume was above average today as the index closed up for the ninth day in a row. A solid, sustained move above 1150 indicate a possible resumption of the up trend that started last March. The index appears overbought, however, and continuation of this most recent move appears unlikely, at least in the near term. Jobless claims tomorrow pre market may provide a catalyst for an indication of direction moving into options expiration next week. Remember, tomorrow is the transition day into the June 2010 contracts. Many traders watch the time and sales indicator, and switch to the new contract when volume swings in that direction around mid day. S&P 500 day trading course
No comments:
Post a Comment