This Morning's Trade

Discussion in 'Technical Analysis' started by UrmaBlume, Sep 3, 2009.

  1. Because we feel that an indication of the direction of the next 20 - 50 points in ES is forming now we posted a report on this morning's activity. Here is an excerpt from that report that was taken a little less than an hour after the open (09/03).

    Today's number of filings for state jobless benefits was 570,000 - bigger than the expected 550k
    A measure of the services industry, ISM Services, will be released at 1000 EST
    The Institute for Supply Management reported at 1000 a greater than expected
    improvement in the US services sector


    The Nite Session found support at 993.00 and selling slightly above 1003.00

    This screen capture of our HUD was taken 30 minutes before today's Open


    This chart shows Trade in ES 45 minutes after the open.
    Prices are down from the open but still between Nite Suppor and Nite Resistance
    The ISM announcement enhances downward bias