ES day trading for 5-27-11

First resitance line is at current O/N high as we approach the 8:30 reports...so

1330.50 - this is also last fridays VA low !

then above there we run into a high and low volume combination from last friday up at

1332.50 - 1335 *******that is a better zone I think for selling against if given the opportunity
\

On the downside we have that key area from YD at 23.75 and the current O/N low is 24.40 so key support will be

1323.75 - 1324.50 ***

under there is a low volume area at 19.50 - 21.25...the breakout zone...that is important to bulls so it gets lots of stars ********
those two zones are tight.....

These will be revised after reports hit....

3 day weekend and reports also at 9:45 and 10 a.m.

I'm hoping to get trading over with fast today......It's one thing having losses but having them infront of a long weekend is worse for me...so overall I will be trading lighter and not as agressive

I favor the short side again.

as usualy we will watch the ranges to see what holds and what fails....

the low volume created a triple festival from noon on....for those who are learning those

hope all have a great weekend too!!

the big picture...

From John Mauldin.... http://pipesandtheories.blogspot.com/2011/04/keynes-v-hayek-rap-battle-part-ii.html