Good Morning.
The trend continues to move downward and volume continues to build lower (including a rise in open interest of 35,000 contracts) all signaling the trend will continue. Trade with a short bias. Sell rallies against resistance.
ES ZB
r4 1301.75 116.21
r3 1296.00 116.17
r2 1291.75 116.11
r1 1286.50 116.05
PP 1280.25 115.27
s1 1277.75 115.16
s2 1270.75 115.10
s3 1264.25 115.00
s4 1260.75 114.26
today's reports:
NAPM-Chicago 9:45 ET
Tomorrow's Reports:
ICSC-UBS Store Sales 7:45 ET
Redbook 8:55 ET
Construction Spending 10:00 ET
ISM Mfg Index 10:00 ET
Best
Josh Kelne
800-845-9685
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