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
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