Wednesday, September 12, 2007

Plan for Rollover Thursday, Sept 13, 2007


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ES Resistance @1493-1497, 1505-1510
ES support @1481-1485, 1448-1452

POC=1487 (2nd day uptrend)

Open gap @1505
Open gap @1466
Open gap @1451

Contract rollover has screwed up my resistance/support numbers. I've tried to extrapolate them based on the Sept. contract and the chart for the Dec. contract. This kind of tells me that I should take it easy tomorrow and not try to push as hard for a winning trade.

Anyways, for the bullish scenario, I will need to see volume and a sustained move above 1495 in order for me to consider going long.
Otherwise, I could see a potential double top scenario near today's Highs. Sell resistance, buy support.

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