Thursday, December 03, 2009

Daily Notes for NFP Friday, Dec 4/09


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ES has been trading sideways since Nov 10/09, and above 1098 for past 3 days. There is a good chance we will test the bottom of the range, which is at 1086-1085.
Tomorrow is NFP Friday, which should produce more volatility.
Trapped longs and the tendency to book profits ahead of the weekend will put pressure on the bulls to defend support.
Resistance 1104, 1108, 1111, 1115
Support 1085, 1093

Gold broke a 4-day uptrend, and is showing cracks in the armour.
Resistance 1207.5, 1209, 1213.4, 1215.5

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