Monday, May 11, 2009

Premarket - ES/NQ/SPY

Premarkets ~ Premarket is showing a sign of pulling back after trading to ES 930 target.

* Financial news is mixed, but it is helping a pull back after extremely bullish news media sentiment during the last several weeks.

** ES is showing stronger performance than NQ during the last week as NQ/Nasdaq/QQQQ led the recent rally since the March low.

* Closing below ES 1366 is a good sign for obtaining a much waited correction.

* SPY traded to 91.53 in premarket and bounced up. Considering how strong the recent rally, relatively, the premarket price actions didn't make a dint to show a confirmation for a pull back even though I have an early sell-signal.

PDF 2 pages Charts and Commentaries: Click at the top right corner to view in full screen.
Market Analysis & Forecast 5/11/2009 Premarket Market Analysis & Forecast 5/11/2009 Premarket GS Market Analysis & Forecast 5/11/2009 Premarket

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